Kayne Anderson Capital Advisors LP Buys New Position in Cameco Corporation $CCJ

Key Points

• Kayne Anderson Capital Advisors initiated a Cameco position of 37,214 shares worth approximately $3.79 million in the second quarter. Institutional investors and hedge funds collectively own 70.21% of the company.
• Cameco shares opened at $95.55 after declining 2.5%; the stock has traded between $70.47 and $135.24 over the past year. The company’s latest quarterly earnings missed expectations, with EPS of $0.13 versus the $0.26 consensus and revenue down 6.8% year over year.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $145.68, although some firms recently downgraded the stock to “hold” or “sell.”

Kayne Anderson Capital Advisors LP bought a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 37,214 shares of the basic materials company's stock, valued at approximately $3,791,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Temasek Holdings Private Ltd acquired a new position in shares of Cameco during the first quarter valued at about $70,851,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Cameco by 35.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company's stock worth $58,187,000 after purchasing an additional 139,592 shares in the last quarter. WCM Investment Management LLC acquired a new stake in shares of Cameco in the 1st quarter valued at about $35,342,000. Amova Asset Management Americas Inc. grew its stake in shares of Cameco by 37.7% in the 1st quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company's stock valued at $56,788,000 after buying an additional 143,113 shares during the period. Finally, Janus Henderson Group PLC increased its position in Cameco by 102.3% in the 1st quarter. Janus Henderson Group PLC now owns 155,427 shares of the basic materials company's stock valued at $16,883,000 after buying an additional 78,609 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Trading Down 2.5%

Shares of Cameco stock opened at $95.55 on Friday. Cameco Corporation has a 1 year low of $70.47 and a 1 year high of $135.24. The firm has a market cap of $41.61 billion, a PE ratio of 161.95, a P/E/G ratio of 1.68 and a beta of 1.05. The stock has a fifty day moving average price of $96.18 and a 200-day moving average price of $107.53. 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 (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share 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 return on equity of 7.59% and a net margin of 10.20%.Cameco's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. Equities research analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of research reports. Truist Financial increased their price target on Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Citigroup restated a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Weiss Ratings cut Cameco from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of Cameco from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.

Want to see what other hedge funds are holding CCJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source