Cameco Corporation (NYSE:CCJ) Position Cut by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 8.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,557,755 shares of the basic materials company’s stock after selling 226,392 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.59% of Cameco worth $105,310,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Cameco by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company’s stock valued at $703,295,000 after buying an additional 300,088 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cameco by 1.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company’s stock valued at $865,729,000 after buying an additional 190,337 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in Cameco by 120.2% in the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock valued at $115,398,000 after buying an additional 1,225,966 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Cameco by 2.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,215,853 shares of the basic materials company’s stock valued at $91,205,000 after purchasing an additional 56,583 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Cameco by 1.1% during the first quarter. TD Asset Management Inc now owns 2,056,644 shares of the basic materials company’s stock valued at $84,652,000 after purchasing an additional 23,321 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. TD Securities restated a “buy” rating on shares of Cameco in a research note on Tuesday. UBS Group restated a “buy” rating on shares of Cameco in a research note on Tuesday, June 10th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, June 18th. Finally, Royal Bank Of Canada lifted their target price on Cameco from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Twelve analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $82.65.

Cameco Stock Up 0.9%

Shares of Cameco stock opened at $77.02 on Friday. The firm has a market cap of $33.53 billion, a price-to-earnings ratio of 88.53 and a beta of 1.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $80.32. The stock has a 50-day simple moving average of $72.05 and a 200-day simple moving average of $55.20.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.22. The business had revenue of $467.72 million during the quarter, compared to analyst estimates of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%. The firm’s revenue was up 46.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. On average, equities research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

About Cameco

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.