Tribune Investment Group LP Buys Shares of 40,000 Cameco Corporation $CCJ

Tribune Investment Group LP purchased a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 40,000 shares of the basic materials company’s stock, valued at approximately $4,074,000. Cameco comprises approximately 1.7% of Tribune Investment Group LP’s investment portfolio, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Osmosis Investment Management UK Ltd acquired a new stake in Cameco during the second quarter worth approximately $931,000. Sanctuary Advisors LLC purchased a new stake in Cameco in the 2nd quarter worth approximately $2,638,000. Biondo Investment Advisors LLC acquired a new position in Cameco in the 2nd quarter valued at $509,000. Solstein Capital LLC acquired a new position in Cameco in the 2nd quarter valued at $93,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cameco during the 2nd quarter worth $301,990,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CCJ. Barclays decreased their price objective on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 4th. Bank of America dropped their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Royal Bank Of Canada raised their price target on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Finally, Truist Financial lifted their price target on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Cameco presently has an average rating of “Moderate Buy” and a consensus price target of $145.68.

Cameco Stock Performance

Shares of CCJ stock opened at $102.55 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. The firm has a market capitalization of $44.66 billion, a price-to-earnings ratio of 173.81, a price-to-earnings-growth ratio of 1.75 and a beta of 1.05. Cameco Corporation has a one year low of $72.75 and a one year high of $135.24. The company has a 50 day moving average price of $96.21 and a 200 day moving average price of $107.40.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share 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 company had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. During the same quarter last year, the business earned $0.71 EPS. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Company 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.