Pinnacle Associates Ltd. Lowers Stock Holdings in Cameco Corporation $CCJ

Pinnacle Associates Ltd. reduced its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 352,583 shares of the basic materials company’s stock after selling 18,864 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.08% of Cameco worth $29,568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CCJ. Norges Bank purchased a new stake in Cameco in the 2nd quarter valued at about $341,736,000. TD Asset Management Inc lifted its holdings in shares of Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after acquiring an additional 2,489,207 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Cameco by 41.4% during 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 worth $524,988,000 after acquiring an additional 2,071,373 shares during the period. Victory Capital Management Inc. boosted its position in shares of Cameco by 75.8% in the third quarter. Victory Capital Management Inc. now owns 2,489,424 shares of the basic materials company’s stock worth $208,490,000 after acquiring an additional 1,073,111 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Cameco by 1,428.6% in the second quarter. Acadian Asset Management LLC now owns 978,300 shares of the basic materials company’s stock worth $72,505,000 after acquiring an additional 914,300 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Trading Down 3.9%

Shares of CCJ stock opened at $109.77 on Monday. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $135.24. The firm’s 50 day moving average price is $114.36 and its two-hundred day moving average price is $96.52. The stock has a market cap of $47.81 billion, a price-to-earnings ratio of 113.16 and a beta of 0.98.

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

Analyst Upgrades and Downgrades

CCJ has been the subject of several research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada lifted their target price on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and an average price target of $143.03.

Cameco 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.