Old West Investment Management LLC Purchases New Shares in Cameco Corporation $CCJ

Key Points

• Old West Investment Management acquired 193,664 Cameco shares worth approximately $19.7 million, making CCJ its 12th-largest holding at about 2.1% of the portfolio. Institutional investors collectively own 70.21% of the company.
• Cameco reported quarterly EPS of $0.13, below the $0.26 analyst consensus, while revenue fell 6.8% year over year to $573.06 million. The stock opened at $97.74 and has traded between $68.96 and $135.24 over the past year.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $145.68, despite mixed recent actions including a Barclays target cut and a Wall Street Zen downgrade to “sell.”

Old West Investment Management LLC acquired a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 193,664 shares of the basic materials company's stock, valued at approximately $19,727,000. Cameco makes up approximately 2.1% of Old West Investment Management LLC's holdings, making the stock its 12th largest position.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC acquired a new stake in shares of Cameco during the 1st quarter valued at about $30,000. Brown Lisle Cummings Inc. raised its holdings in Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock worth $32,000 after purchasing an additional 288 shares during the period. Mcguire Capital Advisors Inc. purchased a new position in Cameco during the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd boosted its position in Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock worth $28,000 after purchasing an additional 307 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in Cameco by 928.6% in the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 325 shares during the period. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Price Performance

Shares of Cameco stock opened at $97.74 on Monday. The business has a 50 day simple moving average of $96.44 and a two-hundred day simple moving average of $108.43. Cameco Corporation has a 12 month low of $68.96 and a 12 month high of $135.24. The stock has a market capitalization of $42.57 billion, a P/E ratio of 165.66, a PEG ratio of 1.67 and a beta of 1.05. 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The firm had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. During the same period in the prior year, the firm earned $0.71 earnings per share. The business's revenue was down 6.8% on a year-over-year basis. As a group, analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on CCJ shares. William Blair started coverage on Cameco in a research report on Monday, April 20th. They issued an "outperform" rating for the company. Wall Street Zen lowered Cameco from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Truist Financial lifted their price target on shares of Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday. Barclays cut their price target on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating for the company in a report on Tuesday, August 4th. Finally, Scotiabank reaffirmed an "outperform" rating and set a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Cameco currently has an average rating of "Moderate Buy" and an average price target of $145.68.

About Cameco

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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