Nicholas Investment Partners LP Buys Shares of 173,899 Cameco Corporation $CCJ

Nicholas Investment Partners LP purchased a new stake in shares of Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 173,899 shares of the basic materials company’s stock, valued at approximately $17,713,000. Cameco comprises 1.0% of Nicholas Investment Partners LP’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors have also modified their holdings of CCJ. Vanguard Group Inc. increased its holdings in shares of Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after acquiring an additional 258,193 shares during the period. Capital World Investors boosted its stake in Cameco by 0.3% during the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after purchasing an additional 41,430 shares during the period. Van ECK Associates Corp boosted its stake in Cameco by 15.6% during the 4th quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after purchasing an additional 849,188 shares during the period. Morgan Stanley boosted its position in shares of Cameco by 7.0% during the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock worth $455,468,000 after buying an additional 323,693 shares during the period. Finally, Norges Bank bought a new position in shares of Cameco in the fourth quarter worth $443,265,000. Institutional investors own 70.21% of the company’s stock.

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Cameco Stock Performance

NYSE:CCJ opened at $102.26 on Tuesday. Cameco Corporation has a twelve month low of $73.20 and a twelve month high of $135.24. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $96.12 and a 200-day moving average of $107.24. The firm has a market cap of $44.54 billion, a price-to-earnings ratio of 173.32, a price-to-earnings-growth ratio of 1.75 and a beta of 1.05.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last announced its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. During the same period in the prior year, the firm earned $0.71 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. Analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

CCJ has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. Royal Bank Of Canada upped their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings cut Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Finally, Citigroup reissued a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and a consensus price target of $145.68.

Check Out Our Latest Analysis on CCJ

About Cameco

(Free Report)

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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