Bristol Gate Capital Partners Inc. Purchases New Holdings in Cameco Corporation $CCJ

Bristol Gate Capital Partners Inc. acquired a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,750 shares of the basic materials company’s stock, valued at approximately $484,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Cameco in the fourth quarter valued at about $443,265,000. Canada Pension Plan Investment Board bought a new position in Cameco during the second quarter worth about $420,346,000. BlackRock Inc. acquired a new stake in Cameco during the second quarter valued at approximately $381,091,000. Cibc World Market Inc. acquired a new stake in Cameco during the second quarter valued at approximately $354,022,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cameco in the 2nd quarter valued at approximately $301,990,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Trading Up 4.7%

CCJ stock opened at $107.03 on Wednesday. The business has a fifty day moving average price of $96.10 and a 200 day moving average price of $107.18. Cameco Corporation has a fifty-two week low of $73.20 and a fifty-two week high of $135.24. The stock has a market capitalization of $46.61 billion, a price-to-earnings ratio of 181.40, a P/E/G ratio of 1.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data 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). The business had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.Cameco’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. Analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CCJ. Royal Bank Of Canada boosted their price target on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Scotiabank reissued an “outperform” rating and set a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Truist Financial upped their target price on shares of Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, Bank of America dropped their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.68.

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.