NewGen Asset Management Ltd Reduces Holdings in Cameco Corporation $CCJ

NewGen Asset Management Ltd cut its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 32.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,400 shares of the basic materials company’s stock after selling 62,600 shares during the period. Cameco accounts for 2.9% of NewGen Asset Management Ltd’s portfolio, making the stock its 6th largest holding. NewGen Asset Management Ltd’s holdings in Cameco were worth $10,851,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Bison Wealth LLC lifted its stake in Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the last quarter. AQR Capital Management LLC increased its position in Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cameco by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Cameco in the second quarter valued at approximately $74,000. 70.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the topic of a number of recent analyst reports. Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Glj Research reaffirmed a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce upped their price objective on shares of Cameco to $202.00 in a report on Monday. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. One 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Stock Performance

NYSE:CCJ opened at $116.35 on Tuesday. The stock has a 50 day simple moving average of $114.84 and a 200 day simple moving average of $96.83. The stock has a market cap of $50.67 billion, a P/E ratio of 119.95 and a beta of 0.98. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $135.24. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14.

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

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.