Munro Partners Invests $7.76 Million in Cameco Corporation $CCJ

Munro Partners acquired a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 84,770 shares of the basic materials company’s stock, valued at approximately $7,756,000.

Several other large investors also recently made changes to their positions in CCJ. Norges Bank acquired a new stake in shares of Cameco in the fourth quarter worth $443,265,000. TD Asset Management Inc increased its position in shares of Cameco by 116.7% in the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after acquiring an additional 2,489,207 shares in the last quarter. Marshall Wace LLP increased its position in shares of Cameco by 7,481.3% in the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after acquiring an additional 1,729,454 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after acquiring an additional 1,644,061 shares in the last quarter. Finally, Mizuho Markets Cayman LP acquired a new stake in Cameco during the 3rd quarter valued at $128,370,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Trading Up 5.9%

NYSE CCJ opened at $106.97 on Tuesday. Cameco Corporation has a 12 month low of $67.60 and a 12 month high of $135.24. 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 company has a market capitalization of $46.59 billion, a price-to-earnings ratio of 99.04, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The company’s fifty day moving average price is $113.01 and its two-hundred day moving average price is $109.41.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. 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 firm posted $0.16 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Cameco Corporation will post 1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CCJ has been the subject of a number of recent analyst reports. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. William Blair initiated coverage on shares of Cameco in a report on Monday, April 20th. They set an “outperform” rating for the company. Scotiabank reaffirmed an “outperform” rating and set a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Royal Bank Of Canada raised their price target on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and an average price target of $147.42.

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.