Garnet Equity Capital Holdings Inc. Cuts Stake in Cameco Co. (NYSE:CCJ)

Garnet Equity Capital Holdings Inc. lowered its position in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 181,350 shares of the basic materials company's stock after selling 50,000 shares during the period. Cameco comprises approximately 1.3% of Garnet Equity Capital Holdings Inc.'s investment portfolio, making the stock its 12th biggest position. Garnet Equity Capital Holdings Inc.'s holdings in Cameco were worth $9,320,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Dantai Capital Ltd lifted its holdings in Cameco by 44.2% during the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company's stock valued at $2,735,000 after purchasing an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC purchased a new stake in shares of Cameco in the fourth quarter valued at approximately $895,000. Whalen Wealth Management Inc. acquired a new position in Cameco during the fourth quarter worth $445,000. Sprott Inc. boosted its stake in Cameco by 44.5% during the fourth quarter. Sprott Inc. now owns 111,896 shares of the basic materials company's stock worth $5,750,000 after buying an additional 34,483 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Cameco in the 4th quarter valued at approximately $930,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CCJ shares. Sanford C. Bernstein assumed coverage on Cameco in a research note on Tuesday, April 1st. They issued an "outperform" rating and a $52.00 price objective for the company. Glj Research boosted their price target on shares of Cameco from $62.76 to $75.68 and gave the stock a "buy" rating in a report on Wednesday, March 12th. Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a report on Wednesday, March 12th. StockNews.com upgraded shares of Cameco from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $90.00 price target on shares of Cameco in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Cameco has a consensus rating of "Buy" and an average target price of $70.03.

Cameco Stock Performance

Shares of CCJ traded up $1.50 during midday trading on Friday, reaching $47.01. 4,138,870 shares of the stock were exchanged, compared to its average volume of 4,063,863. Cameco Co. has a twelve month low of $35.00 and a twelve month high of $62.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The company has a market capitalization of $20.46 billion, a price-to-earnings ratio of 167.89 and a beta of 1.04. The business's 50-day moving average price is $42.08 and its 200 day moving average price is $49.28.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The company had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. On average, sell-side analysts expect that Cameco Co. will post 1.27 EPS for the current fiscal year.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.