Intech Investment Management LLC cut its holdings in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) by 27.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 361,820 shares of the basic materials company’s stock after selling 138,879 shares during the quarter. Intech Investment Management LLC’s holdings in Cameco were worth $33,174,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Cameco by 79.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after purchasing an additional 110,629 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Cameco by 278.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 145,429 shares of the basic materials company’s stock valued at $12,208,000 after purchasing an additional 106,987 shares in the last quarter. Mediolanum International Funds Ltd lifted its holdings in Cameco by 165.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 34,267 shares of the basic materials company’s stock valued at $2,894,000 after purchasing an additional 21,361 shares in the last quarter. Legal & General Group Plc lifted its holdings in Cameco by 4.6% in the 3rd quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock valued at $208,450,000 after purchasing an additional 108,841 shares in the last quarter. Finally, SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co purchased a new position in Cameco in the 4th quarter valued at about $1,974,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce upped their target price on shares of Cameco to $202.00 in a report on Monday, March 9th. Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Sanford C. Bernstein reiterated an “outperform” rating and set a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Finally, Weiss Ratings lowered shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.62.
Cameco Trading Up 3.2%
Shares of CCJ stock opened at $110.83 on Friday. The firm has a market cap of $48.27 billion, a P/E ratio of 102.62, a PEG ratio of 1.81 and a beta of 1.04. Cameco Corporation has a 1-year low of $57.63 and a 1-year high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The firm’s 50-day simple moving average is $112.93 and its 200-day simple moving average is $107.62.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. As a group, equities analysts forecast that Cameco Corporation will post 1.32 EPS for the current year.
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.
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