SummitTX Capital L.P. Acquires 46,211 Shares of Cameco Corporation $CCJ

Key Points

• SummitTX Capital more than doubled its Cameco position in the first quarter, adding 46,211 shares to hold 85,464 shares valued at approximately $9.28 million.
• Cameco reported stronger-than-expected quarterly results, with EPS of $0.34 versus the $0.29 consensus estimate and revenue of $607.49 million, up 7.1% year over year.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $146.18, despite shares recently trading below their 50- and 200-day moving averages.

SummitTX Capital L.P. lifted its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 117.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,464 shares of the basic materials company's stock after buying an additional 46,211 shares during the quarter. SummitTX Capital L.P.'s holdings in Cameco were worth $9,282,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bison Wealth LLC increased its stake in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock valued at $1,102,000 after purchasing an additional 2,975 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Cameco by 48.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock worth $349,000 after buying an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock valued at $24,895,000 after buying an additional 64,512 shares in the last quarter. Finally, NewGen Equity Long Short Fund bought a new position in Cameco during the 2nd quarter valued at approximately $14,252,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

CCJ stock opened at $87.86 on Monday. Cameco Corporation has a 1-year low of $68.96 and a 1-year high of $135.24. The business has a fifty day moving average price of $101.20 and a 200-day moving average price of $110.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The stock has a market capitalization of $38.27 billion, a P/E ratio of 81.35, a P/E/G ratio of 1.39 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same period in the prior year, the company posted $0.16 earnings per share. The company's quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Cameco Corporation will post 1.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

CCJ has been the topic of several analyst reports. Barclays dropped their target price on Cameco from $108.00 to $104.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 15th. William Blair started coverage on Cameco in a report on Monday, April 20th. They set an "outperform" rating for the company. Sanford C. Bernstein reiterated an "outperform" rating and issued a $135.00 price target on shares of Cameco in a research note on Monday, June 15th. Citigroup reissued a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Finally, Truist Financial started coverage on shares of Cameco in a research note on Monday, July 13th. They set a "buy" rating and a $129.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Cameco presently has an average rating of "Moderate Buy" and an average price target of $146.18.

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.

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.