Lazard Asset Management LLC Lowers Stake in Cameco Corporation $CCJ

Lazard Asset Management LLC cut its stake in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) by 65.1% during the first quarter, HoldingsChannel reports. The firm owned 2,966 shares of the basic materials company’s stock after selling 5,539 shares during the period. Lazard Asset Management LLC’s holdings in Cameco were worth $323,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Clearstead Advisors LLC boosted its stake in Cameco by 0.8% during the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after buying an additional 85 shares during the period. Legacy Bridge LLC raised its stake in shares of Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after acquiring an additional 100 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock worth $387,000 after acquiring an additional 107 shares during the last quarter. Groupama Asset Managment lifted its holdings in shares of Cameco by 5.9% in the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after acquiring an additional 108 shares during the last quarter. Finally, S.A. Mason LLC boosted its position in shares of Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 111 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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Cameco Stock Up 4.0%

Cameco stock opened at $97.39 on Friday. The firm has a market capitalization of $42.42 billion, a P/E ratio of 165.06, a P/E/G ratio of 1.45 and a beta of 1.05. The company has a current ratio of 3.06, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24. The stock’s fifty day simple moving average is $97.94 and its 200-day simple moving average is $109.28.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. During the same quarter last year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, equities analysts expect that Cameco Corporation will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CCJ has been the subject of several research reports. Truist Financial began coverage on shares of Cameco in a report on Monday, July 13th. They issued a “buy” rating and a $129.00 target price for the company. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Bank of America lowered their price target on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Finally, Wall Street Zen downgraded Cameco from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and a consensus price target of $145.60.

Read Our Latest Analysis on CCJ

Cameco Profile

(Free Report)

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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