Sage Rhino Capital LLC cut its stake in shares of Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) by 58.1% in the 1st quarter, Holdings Channel reports. The fund owned 4,844 shares of the basic materials company’s stock after selling 6,708 shares during the quarter. Sage Rhino Capital LLC’s holdings in Cameco were worth $526,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Kiley Juergens Wealth Management LLC acquired a new position in shares of Cameco in the first quarter valued at approximately $219,000. Walser Wealth Management Company A Ltd Liability Co lifted its holdings in shares of Cameco by 459.3% during the first quarter. Walser Wealth Management Company A Ltd Liability Co now owns 20,173 shares of the basic materials company’s stock worth $2,191,000 after purchasing an additional 16,566 shares during the period. Marietta Investment Partners LLC grew its position in Cameco by 32.6% in the 1st quarter. Marietta Investment Partners LLC now owns 19,203 shares of the basic materials company’s stock valued at $2,086,000 after buying an additional 4,718 shares during the last quarter. Ascentis Independent Advisors purchased a new position in Cameco in the 1st quarter valued at $143,000. Finally, Hardy Reed LLC purchased a new position in Cameco in the 1st quarter valued at $209,000. 70.21% of the stock is owned by institutional investors and hedge funds.
Cameco Price Performance
CCJ stock traded down $3.57 during trading on Tuesday, reaching $93.93. 1,271,637 shares of the company were exchanged, compared to its average volume of 3,671,383. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The stock’s 50 day moving average price is $108.73 and its 200 day moving average price is $110.75. Cameco Corporation has a 52-week low of $68.96 and a 52-week high of $135.24. The company has a market cap of $40.91 billion, a P/E ratio of 87.41, a PEG ratio of 1.76 and a beta of 1.02.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CCJ. Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Canadian Imperial Bank of Commerce raised their price objective on shares of Cameco to $202.00 in a research report on Monday, March 9th. William Blair assumed coverage on Cameco in a report on Monday, April 20th. They issued an “outperform” rating on the stock. Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 price target on shares of Cameco in a research note on Monday, June 15th. Finally, Royal Bank Of Canada upped their price objective on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $148.92.
Read Our Latest Stock Report on Cameco
About Cameco
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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