Cameco Corporation $CCJ Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd reduced its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 20.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,376 shares of the basic materials company’s stock after selling 32,870 shares during the period. Cumberland Partners Ltd’s holdings in Cameco were worth $13,493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Entropy Technologies LP acquired a new position in shares of Cameco in the 1st quarter valued at $258,000. Bridgewater Advisors Inc. lifted its position in Cameco by 6.2% during the 1st quarter. Bridgewater Advisors Inc. now owns 3,583 shares of the basic materials company’s stock worth $413,000 after acquiring an additional 208 shares during the period. Renaissance Technologies LLC grew its stake in Cameco by 211.6% during the 1st quarter. Renaissance Technologies LLC now owns 684,567 shares of the basic materials company’s stock valued at $74,351,000 after purchasing an additional 464,867 shares during the last quarter. GC Wealth Management RIA LLC purchased a new stake in Cameco during the 1st quarter valued at about $469,000. Finally, Aristides Capital LLC increased its holdings in shares of Cameco by 9.8% in the first quarter. Aristides Capital LLC now owns 26,379 shares of the basic materials company’s stock valued at $2,865,000 after purchasing an additional 2,361 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Down 1.6%

Cameco stock opened at $87.86 on Friday. The business’s 50-day moving average price is $101.20 and its 200 day moving average price is $110.50. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The firm has a market cap of $38.27 billion, a price-to-earnings ratio of 81.35, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. Cameco Corporation has a 52 week low of $68.96 and a 52 week 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 (EPS) for the quarter, beating 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 company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period in the previous year, the company posted $0.16 earnings per share. Cameco’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.34 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Barclays reduced their price target on shares of Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Citigroup restated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Bank of America dropped their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $146.18.

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.