Vident Advisory LLC Trims Stake in Cameco Co. (NYSE:CCJ)

Vident Advisory LLC trimmed its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 13.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 798,281 shares of the basic materials company’s stock after selling 119,124 shares during the period. Cameco makes up about 0.7% of Vident Advisory LLC’s investment portfolio, making the stock its 23rd largest position. Vident Advisory LLC’s holdings in Cameco were worth $41,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Soviero Asset Management LP lifted its stake in Cameco by 34.1% during the fourth quarter. Soviero Asset Management LP now owns 59,000 shares of the basic materials company’s stock worth $3,032,000 after purchasing an additional 15,000 shares during the last quarter. Two Sigma Investments LP lifted its stake in Cameco by 0.5% during the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company’s stock worth $2,592,000 after purchasing an additional 238 shares during the last quarter. Tidal Investments LLC lifted its stake in Cameco by 44.7% during the fourth quarter. Tidal Investments LLC now owns 36,736 shares of the basic materials company’s stock worth $1,888,000 after purchasing an additional 11,340 shares during the last quarter. Strategic Wealth Partners Ltd. lifted its stake in Cameco by 2.1% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 193,026 shares of the basic materials company’s stock worth $9,474,000 after purchasing an additional 4,051 shares during the last quarter. Finally, Sagefield Capital LP lifted its stake in Cameco by 99.2% during the fourth quarter. Sagefield Capital LP now owns 322,700 shares of the basic materials company’s stock worth $16,584,000 after purchasing an additional 160,664 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Stifel Canada raised Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday. Sanford C. Bernstein initiated coverage on Cameco in a research note on Tuesday, April 1st. They set an “outperform” rating and a $52.00 price target for the company. StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Desjardins initiated coverage on Cameco in a research note on Friday, April 4th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $70.03.

Cameco Trading Down 0.5%

NYSE CCJ opened at $51.33 on Monday. Cameco Co. has a 1-year low of $35.00 and a 1-year high of $62.55. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $43.73 and a 200-day moving average of $48.82. The firm has a market cap of $22.35 billion, a PE ratio of 183.33 and a beta of 0.89.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The business had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. As a group, sell-side analysts forecast that Cameco Co. will post 1.27 EPS for the current year.

About Cameco

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.