Seelaus Asset Management LLC Sells 10,175 Shares of Cameco Corporation (NYSE:CCJ)

Key Points

• Seelaus Asset Management LLC reduced its position in Cameco Corporation by 23.9%, now holding 32,480 shares valued at approximately $1.34 million.
• Cameco has received multiple analyst upgrades, including a target price increase from $65.00 to $78.00 by Goldman Sachs and a rating boost to "buy" from Wall Street Zen.
• The company's earnings report showed a significant year-over-year revenue increase of 46.7%, with an earnings per share of $0.51, exceeding analysts' expectations.

Seelaus Asset Management LLC decreased its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 23.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,480 shares of the basic materials company's stock after selling 10,175 shares during the period. Cameco makes up approximately 1.3% of Seelaus Asset Management LLC's investment portfolio, making the stock its 14th biggest position. Seelaus Asset Management LLC's holdings in Cameco were worth $1,337,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of Cameco by 19.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,781 shares of the basic materials company's stock valued at $708,000 after acquiring an additional 2,226 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Cameco by 37.1% in the 4th quarter. Franklin Resources Inc. now owns 171,612 shares of the basic materials company's stock valued at $8,814,000 after acquiring an additional 46,440 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cameco by 31.8% in the 4th quarter. Geode Capital Management LLC now owns 2,518,655 shares of the basic materials company's stock valued at $130,550,000 after acquiring an additional 607,041 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Cameco in the 4th quarter valued at about $822,000. Finally, Arete Wealth Advisors LLC bought a new position in shares of Cameco in the 4th quarter valued at about $311,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Trading Down 1.2%

Shares of Cameco stock traded down $0.90 on Tuesday, hitting $74.36. 1,630,715 shares of the company traded hands, compared to its average volume of 4,821,651. The stock's 50 day moving average price is $70.73 and its 200-day moving average price is $54.58. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $80.32. The company has a market cap of $32.37 billion, a PE ratio of 85.60 and a beta of 1.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company's revenue was up 46.7% on a year-over-year basis. Equities research analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CCJ shares. Sanford C. Bernstein set a $70.00 price target on shares of Cameco and gave the company 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. The Goldman Sachs Group raised their price objective on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Glj Research reissued a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Finally, UBS Group reissued a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. Ten investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $82.65.

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.