Cameco Corporation $CCJ Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lessened its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 1.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,491,977 shares of the basic materials company’s stock after selling 18,626 shares during the quarter. Bank of Nova Scotia’s holdings in Cameco were worth $125,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Financial Consulate Inc. bought a new position in Cameco during the third quarter worth $25,000. Armstrong Advisory Group Inc. boosted its holdings in Cameco by 110.3% in the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 182 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Cameco during the third quarter valued at $37,000. Tobam increased its stake in Cameco by 389.1% during the third quarter. Tobam now owns 450 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 358 shares during the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Cameco during the second quarter worth $35,000. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CCJ shares. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Glj Research reissued a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. 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 research note on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce upped their target price on Cameco to $202.00 in a report on Monday, March 9th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $150.40.

Cameco Stock Performance

Shares of CCJ opened at $107.92 on Friday. The firm has a fifty day moving average of $116.55 and a 200-day moving average of $97.78. The company has a market cap of $47.00 billion, a price-to-earnings ratio of 111.26 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $135.24.

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 for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. As a group, equities 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.