Cumberland Partners Ltd Sells 32,870 Shares of Cameco Corporation $CCJ

Key Points

• Cumberland Partners Ltd reduced its Cameco stake by 20.9% in the first quarter, selling 32,870 shares and leaving it with 124,376 shares valued at about $13.5 million.
• Cameco posted solid quarterly results, with EPS of $0.34 beating estimates and revenue of $607.5 million, up 7.1% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average target price of $146.18, despite the shares trading below recent highs.

Cumberland Partners Ltd cut its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 20.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,376 shares of the basic materials company's stock after selling 32,870 shares during the quarter. Cumberland Partners Ltd's holdings in Cameco were worth $13,493,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Clearstead Advisors LLC boosted its stake in shares of Cameco by 0.8% during the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company's stock worth $929,000 after acquiring an additional 85 shares during the last quarter. Legacy Bridge LLC increased its stake in shares of Cameco by 0.9% in the fourth quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company's stock worth $1,053,000 after purchasing an additional 100 shares in the last quarter. HB Wealth Management LLC raised its holdings in Cameco by 3.1% during the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company's stock valued at $387,000 after acquiring an additional 107 shares during the period. Groupama Asset Managment raised its stake in Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company's stock valued at $176,000 after purchasing an additional 108 shares during the period. Finally, S.A. Mason LLC lifted its holdings in Cameco by 4.8% in 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 in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Performance

Shares of CCJ opened at $87.86 on Friday. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $38.27 billion, a PE ratio of 81.35, a P/E/G ratio of 1.41 and a beta of 1.02. Cameco Corporation has a 12 month low of $68.96 and a 12 month high of $135.24. The stock has a fifty day moving average price of $101.20 and a 200-day moving average price of $110.50.

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. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same period in the previous year, the business earned $0.16 EPS. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts predict that Cameco Corporation will post 1.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CCJ has been the subject of several recent analyst reports. Citigroup restated a "positive" rating on shares of Cameco in a research note on Wednesday, July 15th. 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 on the stock. Bank of America dropped their target price on shares of 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 reiterated an "outperform" rating and issued a $135.00 price target on shares of Cameco in a report on Monday, June 15th. Finally, Scotiabank reaffirmed an "outperform" rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.18.

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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