Pinnacle Associates Ltd. reduced its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 419,783 shares of the basic materials company's stock after selling 51,621 shares during the period. Pinnacle Associates Ltd. owned approximately 0.10% of Cameco worth $17,278,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its stake in Cameco by 8.7% during the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock worth $1,163,942,000 after acquiring an additional 1,811,876 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cameco by 1.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company's stock valued at $865,729,000 after purchasing an additional 190,337 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Cameco by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company's stock valued at $862,997,000 after purchasing an additional 270,102 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Cameco by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company's stock valued at $518,443,000 after purchasing an additional 1,196,336 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Cameco in the 4th quarter valued at $188,595,000. 70.21% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on CCJ. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Glj Research restated a "buy" rating and set a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. Desjardins began coverage on Cameco in a research report on Friday, April 4th. They set a "buy" rating on the stock. UBS Group restated a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Finally, Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Cameco has a consensus rating of "Buy" and an average price target of $80.65.
Read Our Latest Research Report on Cameco
Cameco Stock Up 1.0%
CCJ traded up $0.77 during midday trading on Thursday, reaching $79.92. 3,691,480 shares of the company were exchanged, compared to its average volume of 5,124,197. The company has a market cap of $34.80 billion, a price-to-earnings ratio of 199.81 and a beta of 1.03. 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 company's fifty day moving average price is $67.51 and its 200 day moving average price is $53.23. Cameco Corporation has a one year low of $35.00 and a one year high of $80.06.
Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). The business had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The business's revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. As a group, analysts expect that Cameco Corporation will post 1.27 EPS for the current year.
About Cameco
(
Free Report)
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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