Jupiter Topco LLC Takes Position in Cameco Corporation $CCJ

Jupiter Topco LLC purchased a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 178,712 shares of the basic materials company’s stock, valued at approximately $18,205,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCJ. Mcguire Capital Advisors Inc. bought a new position in Cameco during the 4th quarter valued at $28,000. Caitong International Asset Management Co. Ltd increased its position in shares of Cameco by 30,700.0% in the 4th 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 during the last quarter. Sterling Capital Management LLC acquired a new stake in shares of Cameco in the 1st quarter valued at about $30,000. Sunbelt Securities Inc. raised its stake in shares of Cameco by 928.6% in the 3rd 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 in the last quarter. Finally, Brown Lisle Cummings Inc. lifted its position in shares of Cameco by 3,200.0% during the first 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 last quarter. Institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada upped their price objective on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Finally, Bank of America lowered their price target on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $145.68.

Cameco Stock Performance

Shares of NYSE CCJ opened at $100.07 on Friday. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $96.00 and its two-hundred day moving average price is $107.07. Cameco Corporation has a 52-week low of $73.20 and a 52-week high of $135.24. The stock has a market capitalization of $43.58 billion, a P/E ratio of 169.61, a P/E/G ratio of 1.71 and a beta of 1.05.

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

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.