Ninepoint Partners LP Grows Position in Cameco Corporation $CCJ

Ninepoint Partners LP grew its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 128.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,369 shares of the basic materials company’s stock after purchasing an additional 64,369 shares during the period. Cameco makes up 1.3% of Ninepoint Partners LP’s portfolio, making the stock its 12th biggest holding. Ninepoint Partners LP’s holdings in Cameco were worth $9,591,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CCJ. MGB Wealth Management LLC lifted its stake in Cameco by 5.1% during the third quarter. MGB Wealth Management LLC now owns 9,924 shares of the basic materials company’s stock worth $833,000 after purchasing an additional 485 shares during the last quarter. Choreo LLC lifted its stake in Cameco by 13.4% in the third quarter. Choreo LLC now owns 8,541 shares of the basic materials company’s stock worth $716,000 after purchasing an additional 1,008 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Cameco by 3.8% in the third quarter. Intech Investment Management LLC now owns 500,699 shares of the basic materials company’s stock worth $42,031,000 after buying an additional 18,261 shares during the period. US Bancorp DE lifted its stake in shares of Cameco by 4.5% in the 3rd quarter. US Bancorp DE now owns 29,381 shares of the basic materials company’s stock valued at $2,464,000 after acquiring an additional 1,274 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Cameco by 116.7% during the 3rd 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 during the last quarter. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CCJ. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday. Royal Bank Of Canada upped their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. UBS Group assumed coverage on Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 target price on the stock. Glj Research restated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Finally, Wall Street Zen cut Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus price target of $143.03.

Cameco Stock Performance

Cameco stock opened at $118.36 on Friday. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $135.24. The stock has a market cap of $51.55 billion, a price-to-earnings ratio of 122.02 and a beta of 0.99. The stock’s 50 day simple moving average is $111.91 and its two-hundred day simple moving average is $94.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. As a group, analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal 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.