Engle Capital Management L.P. Has $3.35 Million Stake in Cameco Corporation $CCJ

Key Points

• Engle Capital Management reduced its Cameco stake by 33.3% in the first quarter, selling 15,397 shares and retaining 30,833 shares valued at approximately $3.35 million.
• Cameco reported first-quarter earnings of $0.34 per share, surpassing the $0.29 consensus estimate, while revenue rose 7.1% year over year to $607.49 million.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $146.18 price target, despite the stock opening at $89.29 and trading below its 50- and 200-day moving averages.

Engle Capital Management L.P. reduced its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 33.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,833 shares of the basic materials company's stock after selling 15,397 shares during the quarter. Cameco accounts for 1.1% of Engle Capital Management L.P.'s portfolio, making the stock its 21st largest position. Engle Capital Management L.P.'s holdings in Cameco were worth $3,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CCJ. Sterling Capital Management LLC bought a new stake in shares of Cameco in the first quarter valued at about $30,000. Nisa Investment Advisors LLC acquired a new position in shares of Cameco during the fourth quarter worth about $25,000. Brown Lisle Cummings Inc. grew its holdings in shares of Cameco by 3,200.0% during the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock worth $32,000 after buying an additional 288 shares in the last quarter. Founders Capital Management bought a new position in shares of Cameco during the fourth quarter worth about $27,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Cameco in the 4th quarter valued at approximately $28,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Performance

CCJ opened at $89.29 on Tuesday. Cameco Corporation has a 52-week low of $68.96 and a 52-week high of $135.24. The firm has a market capitalization of $38.89 billion, a PE ratio of 82.68, a PEG ratio of 1.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The business's 50-day simple moving average is $100.89 and its 200 day simple moving average is $110.48.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million during 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 business's revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. As a group, sell-side analysts expect that Cameco Corporation will post 1.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CCJ has been the topic of several research reports. William Blair started coverage on Cameco in a research note on Monday, April 20th. They issued an "outperform" rating on the stock. Barclays lowered their price objective on shares of Cameco from $108.00 to $104.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 15th. Scotiabank reissued an "outperform" rating and issued a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Bank of America reduced their target price on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, Truist Financial began coverage on shares of Cameco in a research report on Monday, July 13th. They issued a "buy" rating and a $129.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.18.

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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