Engle Capital Management L.P. acquired a new stake in shares of Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 46,230 shares of the basic materials company’s stock, valued at approximately $4,233,000. Cameco comprises about 1.6% of Engle Capital Management L.P.’s investment portfolio, making the stock its 21st biggest holding.
A number of other hedge funds have also recently modified their holdings of the business. Clearstead Advisors LLC grew its position in shares of Cameco by 0.8% during the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock valued at $929,000 after acquiring an additional 85 shares during the period. Legacy Bridge LLC grew its position in shares of Cameco by 0.9% during the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after acquiring an additional 100 shares during the period. S.A. Mason LLC grew its position in shares of Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 111 shares during the period. GAMMA Investing LLC grew its position in shares of Cameco by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 112 shares during the period. Finally, Kingsview Wealth Management LLC grew its position in shares of Cameco by 3.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 114 shares during the period. Institutional investors own 70.21% of the company’s stock.
Analysts Set New Price Targets
CCJ has been the topic of several analyst reports. Scotiabank reaffirmed an “outperform” rating and set a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Glj Research reaffirmed a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce lifted their price target on shares of Cameco to $202.00 in a report on Monday, March 9th. Finally, Barclays initiated coverage on shares of Cameco in a report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $147.42.
Cameco Stock Down 2.0%
Shares of CCJ opened at $105.70 on Thursday. The business’s 50 day moving average is $112.82 and its 200 day moving average is $109.66. The company has a market capitalization of $46.04 billion, a PE ratio of 97.87, a price-to-earnings-growth ratio of 1.97 and a beta of 0.99. Cameco Corporation has a 12-month low of $67.60 and a 12-month high of $135.24. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. The company had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.16 EPS. Research analysts expect that Cameco Corporation will post 1.21 earnings per share for the current fiscal year.
Cameco Profile
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.
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