Hillsdale Investment Management Inc. reduced its position in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) by 72.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 66,653 shares of the basic materials company’s stock after selling 174,730 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Cameco were worth $6,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in CCJ. Bison Wealth LLC raised its position in Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after acquiring an additional 2,975 shares during the period. AQR Capital Management LLC raised its position in Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after acquiring an additional 1,361 shares during the period. Integrated Wealth Concepts LLC raised its position in Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after acquiring an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund acquired a new position in Cameco during the second quarter worth $14,252,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. William Blair assumed coverage on shares of Cameco in a research report on Monday, April 20th. They set an “outperform” rating for the company. The Goldman Sachs Group restated a “buy” rating and set a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Canadian Imperial Bank of Commerce upped their price objective on shares of Cameco to $202.00 in a research report on Monday, March 9th. Finally, Weiss Ratings cut shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Cameco presently has a consensus rating of “Moderate Buy” and an average target price of $148.62.
Cameco Price Performance
Cameco stock opened at $112.75 on Friday. Cameco Corporation has a 52-week low of $57.63 and a 52-week high of $135.24. The firm has a market capitalization of $49.11 billion, a price-to-earnings ratio of 104.40, a PEG ratio of 1.90 and a beta of 1.04. The company has a fifty day simple moving average of $113.00 and a 200-day simple moving average of $107.66. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released 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. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Cameco Corporation will post 1.32 EPS for the current fiscal year.
Cameco Company 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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