Cameco Corporation $CCJ Shares Sold by Regal Partners Ltd

Key Points

• Regal Partners reduced its Cameco stake by 26.3% in the first quarter, selling 98,790 shares and retaining 277,200 shares valued at approximately $30.1 million. Institutional investors and hedge funds collectively own 70.21% of the company.
• Analysts remain broadly positive, with Cameco receiving a “Moderate Buy” consensus rating and an average price target of $146.18; Royal Bank of Canada recently raised its target to $175.
• Cameco shares opened at $86.98 after declining 2.7%, while the company’s latest quarterly results exceeded expectations: EPS was $0.34 versus the $0.29 consensus, and revenue rose 7.1% year over year to $607.49 million.

Regal Partners Ltd lessened its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 26.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,200 shares of the basic materials company's stock after selling 98,790 shares during the quarter. Cameco comprises approximately 1.6% of Regal Partners Ltd's portfolio, making the stock its 14th biggest position. Regal Partners Ltd owned about 0.06% of Cameco worth $30,107,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC raised its position in Cameco by 68.5% during the 1st quarter. Empowered Funds LLC now owns 14,398 shares of the basic materials company's stock worth $1,564,000 after buying an additional 5,852 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Cameco in the first quarter valued at about $544,000. SummitTX Capital L.P. boosted its holdings in shares of Cameco by 117.7% in the first quarter. SummitTX Capital L.P. now owns 85,464 shares of the basic materials company's stock valued at $9,282,000 after acquiring an additional 46,211 shares in the last quarter. Family Manage LLC increased its stake in shares of Cameco by 5.4% during the first quarter. Family Manage LLC now owns 3,573 shares of the basic materials company's stock worth $388,000 after acquiring an additional 184 shares during the period. Finally, Themes Management Co LLC raised its holdings in Cameco by 20.0% during the first quarter. Themes Management Co LLC now owns 23,937 shares of the basic materials company's stock worth $2,603,000 after purchasing an additional 3,988 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CCJ shares. Sanford C. Bernstein restated an "outperform" rating and issued a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Citigroup reissued a "positive" rating on shares of Cameco in a research note on Wednesday, July 15th. Truist Financial assumed coverage on Cameco in a research note on Monday, July 13th. They issued a "buy" rating and a $129.00 price target on the stock. William Blair assumed coverage on Cameco in a report on Monday, April 20th. They set an "outperform" rating on the stock. Finally, Royal Bank Of Canada increased their price objective on Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Cameco currently has an average rating of "Moderate Buy" and an average target price of $146.18.

Cameco Trading Down 2.7%

Shares of CCJ opened at $86.98 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. Cameco Corporation has a 1-year low of $68.96 and a 1-year high of $135.24. The stock has a market cap of $37.88 billion, a price-to-earnings ratio of 80.54, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The firm has a 50 day simple moving average of $100.56 and a 200-day simple moving average of $110.37.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.Cameco's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. Equities analysts forecast that Cameco Corporation will post 1.34 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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