SIR Capital Management L.P. Has $2.07 Million Stock Position in Cameco Corporation $CCJ

SIR Capital Management L.P. trimmed its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 74.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 22,600 shares of the basic materials company’s stock after selling 66,700 shares during the period. SIR Capital Management L.P.’s holdings in Cameco were worth $2,068,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCJ. Nisa Investment Advisors LLC bought a new position in Cameco during the fourth quarter worth about $25,000. Founders Capital Management bought a new position in Cameco during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after buying an additional 307 shares during the last quarter. Strategic Advocates LLC bought a new position in Cameco during the third quarter worth about $28,000. Finally, Sunbelt Securities Inc. boosted its holdings in Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after buying an additional 325 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Up 2.0%

NYSE:CCJ opened at $100.94 on Friday. Cameco Corporation has a fifty-two week low of $64.84 and a fifty-two week high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The stock has a market capitalization of $43.96 billion, a PE ratio of 93.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.99. The business’s 50-day simple moving average is $113.12 and its 200-day simple moving average is $109.09.

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

Wall Street Analysts Forecast Growth

CCJ has been the topic of a number of recent analyst reports. William Blair initiated coverage on Cameco in a report on Monday, April 20th. They set an “outperform” rating on the stock. Royal Bank Of Canada raised their target price on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Glj Research restated a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Scotiabank restated an “outperform” rating and set a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Finally, Canadian Imperial Bank of Commerce raised their target price on Cameco to $202.00 in a report on Monday, March 9th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Cameco has a consensus rating of “Moderate Buy” and an average target price of $148.62.

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.