Mountain Lake Investment Management LLC Cuts Stake in Cameco Co. (NYSE:CCJ)

Mountain Lake Investment Management LLC lowered its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 7.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,000 shares of the basic materials company’s stock after selling 25,000 shares during the period. Cameco comprises about 3.0% of Mountain Lake Investment Management LLC’s investment portfolio, making the stock its 15th biggest holding. Mountain Lake Investment Management LLC owned approximately 0.08% of Cameco worth $5,282,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Cameco by 0.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,145,790 shares of the basic materials company’s stock worth $269,953,000 after acquiring an additional 149,500 shares in the last quarter. William Blair Investment Management LLC increased its stake in Cameco by 1.4% during the 1st quarter. William Blair Investment Management LLC now owns 15,628,923 shares of the basic materials company’s stock valued at $259,596,000 after purchasing an additional 218,233 shares in the last quarter. Exor Capital LLP grew its stake in shares of Cameco by 9.1% in the first quarter. Exor Capital LLP now owns 11,120,451 shares of the basic materials company’s stock worth $184,711,000 after acquiring an additional 932,088 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cameco by 79.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,095,190 shares of the basic materials company’s stock worth $117,646,000 after acquiring an additional 3,144,278 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Cameco by 17.1% in the first quarter. Ameriprise Financial Inc. now owns 6,469,194 shares of the basic materials company’s stock worth $107,450,000 after acquiring an additional 946,907 shares during the period. 58.50% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently commented on CCJ shares. Zacks Investment Research lowered shares of Cameco from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on shares of Cameco from $15.00 to $17.00 and gave the stock an “underperform” rating in a report on Monday, May 10th. Cantor Fitzgerald raised shares of Cameco from a “hold” rating to a “buy” rating in a report on Monday, April 12th. BMO Capital Markets downgraded shares of Cameco from an “outperform” rating to a “market perform” rating in a report on Monday, May 10th. Finally, Scotiabank raised their price objective on shares of Cameco from C$25.00 to C$27.00 in a report on Monday, July 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Cameco presently has a consensus rating of “Hold” and an average target price of $22.17.

NYSE:CCJ traded up $0.05 during trading hours on Thursday, hitting $17.34. 81,156 shares of the stock traded hands, compared to its average volume of 3,474,707. The company has a current ratio of 8.21, a quick ratio of 5.87 and a debt-to-equity ratio of 0.20. Cameco Co. has a 1 year low of $9.01 and a 1 year high of $21.95. The stock has a market capitalization of $6.90 billion, a P/E ratio of -288.12 and a beta of 1.01. The firm has a 50 day moving average of $19.42.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, May 6th. The basic materials company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. Cameco had a negative net margin of 2.02% and a negative return on equity of 2.47%. The business had revenue of $290.00 million for the quarter, compared to the consensus estimate of $363.81 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was down 16.2% on a year-over-year basis. As a group, research analysts forecast that Cameco Co. will post -0.01 earnings per share for the current year.

Cameco Company Profile

Cameco Corporation produces and sells uranium. It operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as 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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Institutional Ownership by Quarter for Cameco (NYSE:CCJ)

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