Ninepoint Partners LP Purchases Shares of 50,000 Cameco Corporation (NYSE:CCJ)

Ninepoint Partners LP purchased a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,000 shares of the basic materials company's stock, valued at approximately $2,058,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hurley Capital LLC acquired a new stake in shares of Cameco during the 4th quarter worth about $27,000. Copia Wealth Management purchased a new stake in shares of Cameco in the 4th quarter valued at approximately $39,000. Ameriflex Group Inc. acquired a new position in shares of Cameco in the 4th quarter worth approximately $40,000. CoreCap Advisors LLC increased its holdings in Cameco by 8,363.6% in the 4th quarter. CoreCap Advisors LLC now owns 931 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 920 shares during the last quarter. Finally, Private Trust Co. NA increased its holdings in Cameco by 315.2% in the 1st quarter. Private Trust Co. NA now owns 1,229 shares of the basic materials company's stock valued at $51,000 after purchasing an additional 933 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Price Performance

Shares of CCJ traded down $0.32 during trading hours on Friday, reaching $79.60. The company had a trading volume of 3,506,117 shares, compared to its average volume of 4,917,817. The company has a market capitalization of $34.66 billion, a price-to-earnings ratio of 199.00 and a beta of 1.03. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $80.06. The firm has a 50 day simple moving average of $68.07 and a 200-day simple moving average of $53.44. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The firm had revenue of $549.58 million during the quarter, compared to analysts' expectations of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The company's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. Research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CCJ. UBS Group reiterated a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the company an "outperform" rating in a research note on Tuesday, June 10th. The Goldman Sachs Group lifted their target price on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada upped their price target on Cameco from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, June 20th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $80.65.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.