Tribune Investment Group LP Takes $4.07 Million Position in Cameco Corporation $CCJ

Tribune Investment Group LP acquired a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 40,000 shares of the basic materials company’s stock, valued at approximately $4,074,000. Cameco accounts for 1.7% of Tribune Investment Group LP’s investment portfolio, making the stock its 18th largest holding.

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

Cameco Trading Up 0.0%

Shares of CCJ opened at $102.55 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. Cameco Corporation has a 1-year low of $72.75 and a 1-year high of $135.24. The stock has a market cap of $44.66 billion, a price-to-earnings ratio of 173.81, a price-to-earnings-growth ratio of 1.75 and a beta of 1.05. The firm has a 50 day simple moving average of $96.21 and a 200-day simple moving average of $107.40.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The company had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. Cameco’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 EPS. Equities analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CCJ shares. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings lowered Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Citigroup restated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Royal Bank Of Canada lifted their price target on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Finally, Scotiabank reiterated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.68.

Cameco Company 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.