143,269 Shares in Cameco Corporation $CCJ Acquired by Freestone Grove Partners LP

Key Points

• Freestone Grove Partners LP acquired 143,269 Cameco shares in the second quarter, valued at approximately $14.6 million. Institutional investors and hedge funds collectively own 70.21% of the company.
• Cameco’s latest quarterly results fell short of expectations, with adjusted EPS of $0.13 versus the $0.26 consensus estimate and revenue down 6.8% year over year to $573.1 million.
• Analysts maintain a generally positive outlook, giving Cameco a “Moderate Buy” consensus rating and an average price target of $145.68, compared with a recent share price of $106.40.

Freestone Grove Partners LP acquired a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 143,269 shares of the basic materials company's stock, valued at approximately $14,593,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mcguire Capital Advisors Inc. acquired a new stake in Cameco in the 4th quarter valued at about $28,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 307 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in shares of Cameco in the first quarter valued at approximately $30,000. Sunbelt Securities Inc. increased its stake in shares of Cameco by 928.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock worth $30,000 after purchasing an additional 325 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its holdings in shares of Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock worth $32,000 after acquiring an additional 288 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Performance

NYSE:CCJ opened at $106.40 on Friday. The firm has a 50-day moving average of $96.13 and a two-hundred day moving average of $107.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. The stock has a market cap of $46.34 billion, a P/E ratio of 180.34, a PEG ratio of 1.84 and a beta of 1.05. Cameco Corporation has a 1-year low of $73.20 and a 1-year high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 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 quarter last year, the firm posted $0.71 EPS. The company's revenue was down 6.8% compared to the same quarter last year. On average, research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCJ. Citigroup restated a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Sanford C. Bernstein reissued an "outperform" rating and issued a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Barclays dropped their price objective on Cameco from $104.00 to $97.00 and set an "equal weight" rating for the company in a report on Tuesday, August 4th. Bank of America decreased their target price on Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, Royal Bank Of Canada raised their target price on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.

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