Telemark Asset Management LLC Sells 300,000 Shares of Cameco Corporation (NYSE:CCJ)

Telemark Asset Management LLC cut its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 23.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000,000 shares of the basic materials company's stock after selling 300,000 shares during the period. Cameco accounts for about 5.4% of Telemark Asset Management LLC's investment portfolio, making the stock its 3rd largest position. Telemark Asset Management LLC owned approximately 0.23% of Cameco worth $41,160,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vanguard Capital Wealth Advisors acquired a new position in Cameco during the fourth quarter worth $839,000. Kayne Anderson Capital Advisors LP boosted its stake in shares of Cameco by 41.6% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock worth $1,663,000 after acquiring an additional 11,879 shares in the last quarter. Nicholson Meyer Capital Management Inc. acquired a new position in shares of Cameco during the 1st quarter valued at about $350,000. Balefire LLC lifted its holdings in Cameco by 42.9% in the 1st quarter. Balefire LLC now owns 33,601 shares of the basic materials company's stock worth $1,383,000 after purchasing an additional 10,081 shares during the last quarter. Finally, Galibier Capital Management Ltd. bought a new stake in Cameco during the first quarter worth approximately $11,655,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Performance

NYSE CCJ opened at $76.38 on Friday. The company's fifty day moving average is $71.68 and its two-hundred day moving average is $55.04. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $80.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The firm has a market capitalization of $33.25 billion, a price-to-earnings ratio of 87.79 and a beta of 1.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its 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 business had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. During the same quarter last year, the company earned $0.14 earnings per share. The firm's revenue was up 46.7% on a year-over-year basis. Equities research analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CCJ shares. BMO Capital Markets reissued an "outperform" rating on shares of Cameco in a research report on Tuesday. Royal Bank Of Canada raised their target price on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Sanford C. Bernstein set a $70.00 target price on shares of Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. UBS Group restated a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. Finally, Wall Street Zen upgraded Cameco from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Twelve research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average 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.

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