Regal Partners Ltd Trims Stake in Cameco Corporation $CCJ

Regal Partners Ltd cut its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 24.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,303 shares of the basic materials company’s stock after selling 37,624 shares during the period. Cameco comprises approximately 0.7% of Regal Partners Ltd’s portfolio, making the stock its 27th largest position. Regal Partners Ltd’s holdings in Cameco were worth $8,485,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hager Investment Management Services LLC grew its position in Cameco by 0.4% in the second quarter. Hager Investment Management Services LLC now owns 30,628 shares of the basic materials company’s stock worth $2,274,000 after acquiring an additional 127 shares in the last quarter. Signaturefd LLC grew its position in Cameco by 2.4% in the second quarter. Signaturefd LLC now owns 8,119 shares of the basic materials company’s stock worth $603,000 after acquiring an additional 191 shares in the last quarter. Belpointe Asset Management LLC grew its position in Cameco by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 21,858 shares of the basic materials company’s stock worth $1,623,000 after acquiring an additional 206 shares in the last quarter. Country Club Bank grew its position in Cameco by 0.5% in the first quarter. Country Club Bank now owns 43,553 shares of the basic materials company’s stock worth $1,822,000 after acquiring an additional 224 shares in the last quarter. Finally, Blume Capital Management Inc. grew its position in Cameco by 2.2% in the second quarter. Blume Capital Management Inc. now owns 13,361 shares of the basic materials company’s stock worth $992,000 after acquiring an additional 284 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Performance

Shares of NYSE:CCJ opened at $102.18 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $84.88 and a 200-day moving average price of $71.51. The company has a market cap of $44.49 billion, a price-to-earnings ratio of 117.44 and a beta of 0.99. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $110.15.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.22. The company had revenue of $467.72 million during the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. Cameco’s revenue for the quarter was up 46.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. As a group, equities analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CCJ shares. The Goldman Sachs Group upped their target price on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James Financial boosted their price target on shares of Cameco to $150.00 in a research note on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Cameco in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their price target on shares of Cameco from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Finally, TD Securities reissued a “buy” rating on shares of Cameco in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $102.61.

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.