NewEdge Advisors LLC Lowers Stock Position in Cameco Corporation $CCJ

NewEdge Advisors LLC reduced its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 22.9% during the first quarter, Holdings Channel reports. The firm owned 167,322 shares of the basic materials company’s stock after selling 49,608 shares during the period. NewEdge Advisors LLC’s holdings in Cameco were worth $18,173,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after buying an additional 258,193 shares during the last quarter. Capital World Investors boosted its stake in shares of Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after buying an additional 41,430 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after acquiring an additional 849,188 shares in the last quarter. Morgan Stanley grew its holdings in shares of Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock valued at $455,468,000 after acquiring an additional 323,693 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Cameco during the fourth quarter valued at approximately $443,265,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Price Performance

CCJ opened at $97.39 on Friday. The firm has a 50-day moving average price of $97.94 and a 200-day moving average price of $109.28. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24. 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 company has a market capitalization of $42.42 billion, a price-to-earnings ratio of 165.06, a PEG ratio of 1.45 and a beta of 1.05.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to analysts’ expectations of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. Equities analysts expect that Cameco Corporation will post 1.36 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 price target on shares of Cameco in a report on Monday, June 15th. Barclays reduced their price target on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. William Blair began coverage on shares of Cameco in a research note on Monday, April 20th. They issued an “outperform” rating on the stock. Finally, Bank of America reduced their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. One research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $145.60.

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.