Cameco Corporation $CCJ Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

Key Points

• W.G. Shaheen & Associates DBA Whitney & Co cut its Cameco stake by 70.4% in the first quarter, selling 92,301 shares and leaving it with 38,825 shares worth about $4.2 million.
• Analyst sentiment remains generally positive, with Cameco carrying a “Moderate Buy” consensus and an average price target of $146.18, though some firms have trimmed targets.
• Despite the stock trading down 3.8% to $87.50, Cameco recently beat earnings expectations, reporting $0.34 per share on revenue of $607.5 million, both above consensus estimates.

W.G. Shaheen & Associates DBA Whitney & Co reduced its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 70.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,825 shares of the basic materials company's stock after selling 92,301 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co's holdings in Cameco were worth $4,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC purchased a new position in shares of Cameco in the 1st quarter valued at $30,000. Nisa Investment Advisors LLC purchased a new stake in Cameco in the fourth quarter valued at $25,000. Brown Lisle Cummings Inc. lifted its position in Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Founders Capital Management acquired a new position in Cameco in the fourth quarter valued at $27,000. Finally, Mcguire Capital Advisors Inc. acquired a new position in Cameco in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CCJ. Bank of America dropped their price objective on Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Royal Bank Of Canada upped their target price on Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, June 29th. Citigroup restated a "positive" rating on shares of Cameco in a research note on Wednesday. Weiss Ratings lowered Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Finally, Barclays reduced their price objective on Cameco from $108.00 to $104.00 and set an "equal weight" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $146.18.

Cameco Trading Down 3.8%

NYSE CCJ opened at $87.50 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The firm has a market cap of $38.11 billion, a PE ratio of 81.02, a P/E/G ratio of 1.49 and a beta of 1.02. Cameco Corporation has a one year low of $68.96 and a one year high of $135.24. The firm's fifty day moving average is $104.45 and its two-hundred day moving average is $110.85.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its 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 business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Analysts expect that Cameco Corporation will post 1.29 earnings per share for the current 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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