Cumberland Partners Ltd Cuts Holdings in Cameco Corporation (NYSE:CCJ)

Key Points

• Cumberland Partners Ltd reduced its holdings in Cameco Corporation by 12.5% in Q1, selling 31,366 shares and owning approximately 0.05% of the company valued at $9.06 million.
• Cameco reported earnings per share of $0.51 for the latest quarter, exceeding estimates by $0.22, despite revenue falling short of expectations at $467.72 million.
• Analyst ratings for Cameco have been positive, with several brokerages upgrading the stock to a "buy" and target prices rising significantly, including a new target of $78.00 from Goldman Sachs.

Cumberland Partners Ltd lessened its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 220,159 shares of the basic materials company's stock after selling 31,366 shares during the period. Cumberland Partners Ltd owned approximately 0.05% of Cameco worth $9,064,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hurley Capital LLC purchased a new stake in shares of Cameco during the 4th quarter worth about $27,000. Copia Wealth Management purchased a new position in Cameco in the fourth quarter valued at approximately $39,000. Ameriflex Group Inc. acquired a new position in Cameco during the fourth quarter valued at approximately $40,000. CoreCap Advisors LLC grew its stake in Cameco by 8,363.6% during the fourth quarter. CoreCap Advisors LLC now owns 931 shares of the basic materials company's stock worth $48,000 after buying an additional 920 shares during the period. Finally, Private Trust Co. NA grew its stake in Cameco by 315.2% during the first quarter. Private Trust Co. NA now owns 1,229 shares of the basic materials company's stock worth $51,000 after buying an additional 933 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Down 2.6%

NYSE:CCJ opened at $72.97 on Friday. The stock has a market cap of $31.77 billion, a price-to-earnings ratio of 83.87 and a beta of 1.03. Cameco Corporation has a one year low of $35.00 and a one year high of $80.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70. The business's 50-day simple moving average is $70.40 and its 200 day simple moving average is $54.35.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. Cameco had a return on equity of 8.34% and a net margin of 14.97%. Cameco's revenue for the quarter was up 46.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. As a group, sell-side analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on CCJ. Wall Street Zen raised shares of Cameco from a "hold" rating to a "buy" rating in a research note on Saturday. Scotiabank reissued an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Finally, The Goldman Sachs Group raised their target price on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Ten analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $82.65.

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.

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