Interval Partners LP Acquires Shares of 49,604 Cameco Co. (NYSE:CCJ)

Interval Partners LP purchased a new position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 49,604 shares of the basic materials company’s stock, valued at approximately $2,441,000.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new position in Cameco in the second quarter valued at about $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Cameco in the first quarter valued at $31,131,000. King Luther Capital Management Corp purchased a new stake in Cameco during the second quarter worth approximately $32,740,000. CIBC Asset Management Inc lifted its position in shares of Cameco by 24.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,319,455 shares of the basic materials company’s stock worth $100,324,000 after buying an additional 452,973 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Cameco in the first quarter valued at $18,535,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

Cameco stock opened at $46.02 on Tuesday. Cameco Co. has a 1 year low of $35.18 and a 1 year high of $56.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The firm has a 50 day moving average price of $41.64 and a 200 day moving average price of $46.56. The company has a market cap of $20.03 billion, a price-to-earnings ratio of 118.00 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The business had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period last year, the company posted ($0.01) EPS. Sell-side analysts predict that Cameco Co. will post 0.96 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CCJ shares. The Goldman Sachs Group increased their price objective on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a report on Friday, June 7th. Bank of America boosted their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Glj Research reissued a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $67.25.

Cameco 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.