Engineers Gate Manager LP Lowers Stock Position in Cameco Corporation $CCJ

Key Points

• Engineers Gate Manager LP cut its Cameco stake by 90% in the second quarter, selling 35,036 shares and retaining 3,900 shares valued at approximately $397,000. Institutional investors and hedge funds collectively own 70.21% of Cameco.
• Cameco reported quarterly earnings of $0.13 per share, below the $0.26 analyst consensus, while revenue of $573.06 million also slightly missed estimates and declined 6.8% year over year.
• Despite mixed performance and a share price of $88.12, analysts maintain a “Moderate Buy” consensus, with an average price target of $148.68.

Engineers Gate Manager LP reduced its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 90.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,900 shares of the basic materials company's stock after selling 35,036 shares during the period. Engineers Gate Manager LP's holdings in Cameco were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Clearstead Advisors LLC lifted its holdings in shares of Cameco by 0.8% in the fourth 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. HB Wealth Management LLC grew its position in shares of Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company's stock valued at $387,000 after buying an additional 107 shares during the last quarter. Groupama Asset Managment grew its position in shares of Cameco by 5.9% in the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company's stock valued at $176,000 after buying an additional 108 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Cameco by 3.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company's stock valued at $314,000 after buying an additional 114 shares during the period. Finally, Syon Capital LLC raised its position in shares of Cameco by 1.5% during the fourth quarter. Syon Capital LLC now owns 8,246 shares of the basic materials company's stock worth $754,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Performance

NYSE CCJ opened at $88.12 on Friday. The company has a market cap of $38.38 billion, a P/E ratio of 149.36, a PEG ratio of 1.62 and a beta of 1.06. The company has a fifty day simple moving average of $95.05 and a 200 day simple moving average of $104.05. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 12-month low of $77.70 and a 12-month high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm's quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the business posted $0.71 earnings per share. Sell-side analysts predict that Cameco Corporation will post 1.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CCJ shares. Barclays cut their price objective on Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 4th. Royal Bank Of Canada raised their price target on shares of Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, June 29th. Weiss Ratings downgraded shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Jefferies Financial Group assumed coverage on shares of Cameco in a research note on Thursday, September 3rd. They issued a "buy" rating and a $138.00 price objective on the stock. Finally, Bank of America decreased their price objective 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. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Cameco has a consensus rating of "Moderate Buy" and a consensus price target of $148.68.

Cameco Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world's largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.

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