SIR Capital Management L.P. Takes Position in Cameco Corporation $CCJ

Key Points

• SIR Capital Management purchased 21,200 Cameco shares during the second quarter, valued at approximately $2.16 million. Institutional investors collectively own 70.21% of the company.
• Analyst sentiment remains positive overall, with 14 Buy ratings and five Holds, producing a “Moderate Buy” consensus and an average price target of $145.68, despite some recent downgrades and target-price reductions.
• Cameco’s latest quarter fell short of expectations: earnings per share were $0.13 versus the $0.26 consensus, while revenue declined 6.8% year over year to $573.06 million.

SIR Capital Management L.P. purchased a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 21,200 shares of the basic materials company's stock, valued at approximately $2,159,000.

Several other large investors have also recently modified their holdings of CCJ. Vanguard Group Inc. increased its stake in Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock worth $1,653,639,000 after purchasing an additional 258,193 shares during the period. Capital World Investors lifted its position in shares of Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company's stock worth $1,240,047,000 after purchasing an additional 41,430 shares during the period. Van ECK Associates Corp lifted its holdings in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company's stock worth $575,771,000 after buying an additional 849,188 shares during the period. Morgan Stanley boosted its position in shares of Cameco by 7.0% during the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company's stock valued at $455,468,000 after purchasing an additional 323,693 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Cameco during the 4th quarter valued at $443,265,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CCJ. Weiss Ratings downgraded Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Citigroup reissued a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Bank of America lowered their target price on Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Barclays dropped their price target on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 4th. Finally, Wall Street Zen downgraded Cameco from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Cameco currently has an average rating of "Moderate Buy" and an average price target of $145.68.

Cameco Price Performance

NYSE:CCJ opened at $102.26 on Tuesday. The company has a market capitalization of $44.54 billion, a P/E ratio of 173.32, a P/E/G ratio of 1.75 and a beta of 1.05. Cameco Corporation has a 12 month low of $73.20 and a 12 month high of $135.24. The business's 50-day moving average is $96.12 and its 200 day moving average is $107.24. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. The firm's revenue was down 6.8% compared to the same quarter last year. On average, equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

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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