Picton Mahoney Asset Management Cuts Holdings in Cameco Corporation $CCJ

Picton Mahoney Asset Management trimmed its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 34.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 457,311 shares of the basic materials company’s stock after selling 241,151 shares during the period. Picton Mahoney Asset Management owned about 0.11% of Cameco worth $38,374,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CCJ. Norges Bank bought a new position in shares of Cameco in the second quarter valued at approximately $341,736,000. TD Asset Management Inc boosted its position in Cameco by 116.7% in the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after purchasing an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the period. Victory Capital Management Inc. increased its position in shares of Cameco by 75.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,489,424 shares of the basic materials company’s stock valued at $208,490,000 after purchasing an additional 1,073,111 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Cameco by 1,428.6% during the 2nd quarter. Acadian Asset Management LLC now owns 978,300 shares of the basic materials company’s stock valued at $72,505,000 after purchasing an additional 914,300 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. UBS Group started coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price for the company. Glj Research restated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Finally, Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.03.

Cameco Price Performance

Shares of NYSE:CCJ opened at $117.74 on Wednesday. The firm has a market capitalization of $51.28 billion, a PE ratio of 121.38 and a beta of 0.98. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $113.08 and a two-hundred day moving average price of $95.65. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Equities analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

About Cameco

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.