Platinum Investment Management Ltd. Has $53.59 Million Holdings in Cameco Co. (NYSE:CCJ)

Platinum Investment Management Ltd. lowered its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 64.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,042,725 shares of the basic materials company’s stock after selling 1,880,738 shares during the period. Cameco makes up 3.1% of Platinum Investment Management Ltd.’s portfolio, making the stock its 10th largest position. Platinum Investment Management Ltd.’s holdings in Cameco were worth $53,587,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCJ. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Cameco by 17.7% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 143,423 shares of the basic materials company’s stock worth $7,371,000 after acquiring an additional 21,542 shares during the period. Intech Investment Management LLC raised its position in Cameco by 42.3% during the fourth quarter. Intech Investment Management LLC now owns 451,781 shares of the basic materials company’s stock valued at $23,217,000 after purchasing an additional 134,250 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in Cameco during the fourth quarter valued at approximately $167,000. Tocqueville Asset Management L.P. raised its position in Cameco by 0.7% during the fourth quarter. Tocqueville Asset Management L.P. now owns 979,246 shares of the basic materials company’s stock valued at $50,323,000 after purchasing an additional 7,215 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its holdings in shares of Cameco by 19.1% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 616,951 shares of the basic materials company’s stock worth $31,705,000 after buying an additional 99,123 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Shares of NYSE CCJ opened at $43.09 on Wednesday. The firm’s 50-day moving average price is $47.40 and its 200-day moving average price is $50.07. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $62.55. The firm has a market capitalization of $18.76 billion, a P/E ratio of 153.90 and a beta of 1.04. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The firm had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. Equities research analysts anticipate that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CCJ has been the subject of several research analyst reports. Stifel Nicolaus initiated coverage on shares of Cameco in a report on Wednesday, March 12th. They set a “buy” rating for the company. Glj Research upped their price target on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. StockNews.com raised shares of Cameco from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 price target on shares of Cameco in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $73.64.

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.