Cameco Co. (NYSE:CCJ) Shares Purchased by Bornite Capital Management LP

Bornite Capital Management LP increased its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 63.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 250,000 shares of the basic materials company’s stock after purchasing an additional 97,100 shares during the quarter. Cameco accounts for about 1.8% of Bornite Capital Management LP’s investment portfolio, making the stock its 23rd largest holding. Bornite Capital Management LP owned approximately 0.06% of Cameco worth $10,830,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCJ. Price T Rowe Associates Inc. MD grew its position in Cameco by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after acquiring an additional 202,157 shares in the last quarter. BOKF NA grew its position in Cameco by 21.6% in the first quarter. BOKF NA now owns 93,740 shares of the basic materials company’s stock valued at $4,382,000 after acquiring an additional 16,651 shares in the last quarter. Beck Capital Management LLC grew its position in Cameco by 1.5% in the first quarter. Beck Capital Management LLC now owns 132,619 shares of the basic materials company’s stock valued at $5,745,000 after acquiring an additional 1,997 shares in the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in Cameco in the first quarter valued at approximately $371,000. Finally, LRI Investments LLC acquired a new stake in Cameco in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CCJ shares. The Goldman Sachs Group increased their target price on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, June 7th. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. Finally, Bank of America raised their price objective on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and a consensus price target of $63.70.

Cameco Stock Performance

Shares of CCJ traded down $0.56 during trading hours on Monday, reaching $44.63. 2,620,075 shares of the company’s stock traded hands, compared to its average volume of 4,307,879. The firm has a market capitalization of $19.42 billion, a price-to-earnings ratio of 114.44 and a beta of 0.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.42 and a quick ratio of 0.69. Cameco Co. has a twelve month low of $31.58 and a twelve month high of $56.24. The business’s fifty day simple moving average is $51.11 and its two-hundred day simple moving average is $47.81.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.23). The business had revenue of $470.29 million for the quarter. Cameco had a net margin of 9.28% and a return on equity of 4.60%. Analysts predict that Cameco Co. will post 1.12 earnings per share for the current year.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.