Platinum Investment Management Ltd. Decreases Position in Cameco Corporation $CCJ

Platinum Investment Management Ltd. decreased its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 93.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,356 shares of the basic materials company’s stock after selling 632,134 shares during the period. Platinum Investment Management Ltd.’s holdings in Cameco were worth $3,875,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clearstead Advisors LLC lifted its holdings in Cameco by 0.8% during the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after buying an additional 85 shares during the last quarter. Legacy Bridge LLC lifted its holdings in Cameco by 0.9% during the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock worth $1,053,000 after buying an additional 100 shares during the last quarter. S.A. Mason LLC lifted its holdings in Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after buying an additional 111 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Cameco by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $62,000 after buying an additional 112 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in Cameco by 3.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock worth $314,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Up 2.0%

Shares of Cameco stock opened at $100.94 on Friday. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $113.12 and its 200-day simple moving average is $109.09. The stock has a market capitalization of $43.96 billion, a price-to-earnings ratio of 93.47, a PEG ratio of 1.68 and a beta of 0.99. Cameco Corporation has a twelve month low of $64.84 and a twelve month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same period in the prior year, the firm earned $0.16 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Equities research analysts forecast that Cameco Corporation will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. William Blair assumed coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Glj Research reiterated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, Barclays assumed coverage on Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long?term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.