Private Advisory Group LLC Cuts Position in Cameco Corporation (NYSE:CCJ)

Key Points

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Private Advisory Group LLC lowered its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 74.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,440 shares of the basic materials company's stock after selling 109,404 shares during the quarter. Private Advisory Group LLC's holdings in Cameco were worth $1,582,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CCJ. FMR LLC boosted its holdings in shares of Cameco by 8.7% in the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock valued at $1,163,942,000 after purchasing an additional 1,811,876 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in shares of Cameco by 120.2% in the 4th quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock valued at $115,398,000 after acquiring an additional 1,225,966 shares during the last quarter. Wellington Management Group LLP raised its position in Cameco by 35.9% during the 4th quarter. Wellington Management Group LLP now owns 2,590,976 shares of the basic materials company's stock worth $133,151,000 after purchasing an additional 685,145 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Cameco during the 4th quarter worth about $34,440,000. Finally, Canada Pension Plan Investment Board lifted its holdings in Cameco by 3,057.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 643,535 shares of the basic materials company's stock worth $33,046,000 after buying an additional 623,154 shares during the period. Institutional investors and hedge funds own 70.21% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. Desjardins assumed coverage on Cameco in a report on Friday, April 4th. They set a "buy" rating on the stock. The Goldman Sachs Group lifted their target price on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, UBS Group reaffirmed a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $80.65.

Cameco Stock Down 3.0%

Cameco stock traded down $2.27 during midday trading on Friday, reaching $72.66. The stock had a trading volume of 1,287,835 shares, compared to its average volume of 4,818,670. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $80.32. The company has a market capitalization of $31.64 billion, a P/E ratio of 181.65 and a beta of 1.03. The company has a fifty day moving average price of $70.11 and a two-hundred day moving average price of $54.18. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. The business had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The company's quarterly revenue was up 46.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. As a group, equities analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Company 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.