Cameco Corporation $CCJ Stake Lessened by Kercheville Advisors LLC

Kercheville Advisors LLC decreased its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 23.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,852 shares of the basic materials company’s stock after selling 9,850 shares during the quarter. Kercheville Advisors LLC’s holdings in Cameco were worth $2,761,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New Wave Wealth Advisors LLC grew its position in Cameco by 15.9% in the third quarter. New Wave Wealth Advisors LLC now owns 9,572 shares of the basic materials company’s stock valued at $825,000 after purchasing an additional 1,313 shares in the last quarter. Jackson Square Capital LLC raised its stake in shares of Cameco by 29.5% in the third quarter. Jackson Square Capital LLC now owns 2,591 shares of the basic materials company’s stock valued at $225,000 after buying an additional 591 shares during the period. IFP Advisors Inc raised its stake in shares of Cameco by 4.9% during the third quarter. IFP Advisors Inc now owns 5,570 shares of the basic materials company’s stock valued at $483,000 after acquiring an additional 259 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Cameco by 11.1% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,135,870 shares of the basic materials company’s stock worth $97,284,000 after buying an additional 113,748 shares during the last quarter. Finally, Banque Pictet & Cie SA purchased a new position in Cameco during the 3rd quarter valued at $1,482,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CCJ shares. Citigroup reissued a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Jefferies Financial Group initiated coverage on shares of Cameco in a research note on Thursday, September 3rd. They set a “buy” rating and a $138.00 target price on the stock. Barclays dropped their target price on shares of Cameco from $97.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday. Zacks Research lowered Cameco from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Finally, Weiss Ratings raised Cameco from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.52.

Cameco Price Performance

Shares of Cameco stock traded down $0.81 on Monday, hitting $80.72. The company’s stock had a trading volume of 1,991,459 shares, compared to its average volume of 3,523,837. The company has a market capitalization of $35.15 billion, a P/E ratio of 136.81, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17. Cameco Corporation has a 52-week low of $77.70 and a 52-week high of $135.24. The firm has a fifty day moving average price of $94.11 and a 200-day moving average price of $101.48. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. During the same period last year, the company earned $0.71 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, equities research analysts expect that Cameco Corporation will post 1.07 earnings per share for the current fiscal year.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.