Shelton Wealth Management LLC cut its stake in shares of Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) by 22.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,522 shares of the basic materials company’s stock after selling 6,384 shares during the period. Cameco makes up 1.0% of Shelton Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Shelton Wealth Management LLC’s holdings in Cameco were worth $2,338,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Cameco in the 4th quarter valued at about $443,265,000. Marshall Wace LLP grew its holdings in shares of Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after buying an additional 1,729,454 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after buying an additional 1,644,061 shares during the last quarter. Mizuho Markets Cayman LP acquired a new position in shares of Cameco in the third quarter valued at approximately $128,370,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cameco by 14,338.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after buying an additional 1,104,378 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on CCJ. Scotiabank restated an “outperform” rating and set a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Canadian Imperial Bank of Commerce raised their price objective on Cameco to $202.00 in a report on Monday, March 9th. Barclays began coverage on Cameco in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price objective for the company. Finally, William Blair initiated coverage on Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.92.
Cameco Trading Down 3.5%
Shares of NYSE CCJ traded down $3.40 during trading on Tuesday, hitting $94.10. 1,238,357 shares of the company traded hands, compared to its average volume of 3,670,083. The firm has a market capitalization of $40.98 billion, a P/E ratio of 87.15, a P/E/G ratio of 1.76 and a beta of 1.02. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $108.73 and a 200-day moving average price of $110.75. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. During the same period last year, the company posted $0.16 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts predict that Cameco Corporation will post 1.21 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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