Munro Partners Purchases Shares of 84,770 Cameco Corporation $CCJ

Munro Partners purchased a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 84,770 shares of the basic materials company’s stock, valued at approximately $7,756,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bison Wealth LLC lifted its stake in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC lifted its stake in shares of Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after buying an additional 1,361 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund purchased a new position in shares of Cameco during the second quarter valued at approximately $14,252,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several recent analyst reports. TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Barclays initiated coverage on shares of Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective on the stock. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research note on Monday. Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, William Blair started coverage on shares of Cameco in a research note on Monday, April 20th. They set an “outperform” rating on the stock. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $147.42.

Cameco Stock Performance

Shares of CCJ stock opened at $106.97 on Tuesday. Cameco Corporation has a one year low of $67.60 and a one year high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The company has a 50 day moving average price of $113.01 and a 200 day moving average price of $109.41. The firm has a market capitalization of $46.59 billion, a price-to-earnings ratio of 99.04, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. Cameco’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Cameco Corporation will post 1.31 EPS for the current year.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long?term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.