Encompass Capital Advisors LLC reduced its stake in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) by 46.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 375,000 shares of the basic materials company’s stock after selling 325,000 shares during the period. Cameco comprises 1.4% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 26th largest position. Encompass Capital Advisors LLC’s holdings in Cameco were worth $34,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of CCJ. Nisa Investment Advisors LLC purchased a new position in shares of Cameco during the fourth quarter valued at approximately $25,000. Founders Capital Management purchased a new position in shares of Cameco during the fourth quarter valued at approximately $27,000. Strategic Advocates LLC purchased a new position in shares of Cameco during the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after buying an additional 307 shares during the period. Finally, Sunbelt Securities Inc. increased its stake in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after buying an additional 325 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on CCJ shares. Barclays started coverage on Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 target price on the stock. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Scotiabank reissued an “outperform” rating and set a $175.00 target price on shares of Cameco in a research note on Wednesday, May 6th. William Blair assumed coverage on Cameco in a research note on Monday, April 20th. They issued an “outperform” rating on the stock. Finally, Glj Research reaffirmed a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.42.
Cameco Price Performance
Shares of CCJ stock opened at $105.70 on Thursday. The stock has a market cap of $46.04 billion, a price-to-earnings ratio of 97.87, a PEG ratio of 1.97 and a beta of 0.99. The business’s fifty day moving average is $112.82 and its 200 day moving average is $109.66. Cameco Corporation has a twelve month low of $67.60 and a twelve month high of $135.24. 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 issued its quarterly 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. The company had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. Research analysts expect that Cameco Corporation will post 1.21 EPS for the current fiscal year.
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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