Quantinno Capital Management LP Trims Stake in Cameco Corporation $CCJ

Quantinno Capital Management LP lowered its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 9.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,903 shares of the basic materials company’s stock after selling 9,071 shares during the period. Quantinno Capital Management LP’s holdings in Cameco were worth $9,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Bison Wealth LLC raised its holdings in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC boosted its holdings in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 1,361 shares during the period. Integrated Wealth Concepts LLC grew its position in Cameco by 48.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after acquiring an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cameco by 11.9% in the 1st 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 acquiring an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund purchased a new stake in Cameco in the second quarter worth $14,252,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

CCJ has been the subject of several research analyst reports. Bank of America decreased their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Citigroup reissued a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada upped their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.60.

Cameco Trading Up 3.8%

Shares of NYSE CCJ opened at $93.14 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $98.84 and a two-hundred day simple moving average of $109.66. The firm has a market cap of $40.56 billion, a PE ratio of 157.86, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The firm had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. Cameco’s quarterly revenue was down 6.8% compared to the same quarter last year. Analysts expect that Cameco Corporation will post 1.31 earnings per share for the current fiscal year.

Cameco Company 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.