Ipswich Investment Management Co. Inc. Sells 1,360 Shares of Cameco Co. (NYSE:CCJ)

Ipswich Investment Management Co. Inc. reduced its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,609 shares of the basic materials company’s stock after selling 1,360 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Cameco were worth $2,330,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sierra Ocean LLC bought a new stake in shares of Cameco during the 4th quarter valued at about $25,000. Hurley Capital LLC bought a new stake in shares of Cameco during the 4th quarter valued at about $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Cameco during the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC bought a new position in shares of Cameco during the 4th quarter valued at approximately $33,000. Finally, Compass Planning Associates Inc bought a new position in shares of Cameco during the 4th quarter valued at approximately $36,000. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Scotiabank reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, May 14th. Stifel Nicolaus assumed coverage on Cameco in a research note on Wednesday, March 12th. They set a “buy” rating for the company. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the company an “outperform” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. Finally, Wall Street Zen upgraded Cameco from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $75.63.

Cameco Stock Up 0.7%

NYSE CCJ opened at $66.60 on Friday. The stock’s 50 day moving average is $50.71 and its 200 day moving average is $49.56. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. Cameco Co. has a 12 month low of $35.00 and a 12 month high of $68.12. The stock has a market cap of $28.99 billion, a PE ratio of 237.85 and a beta of 0.97.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The business had revenue of $549.58 million during the quarter, compared to analysts’ expectations of $890.07 million. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. Research analysts predict that Cameco Co. will post 1.27 EPS for the current fiscal year.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.