Cidel Asset Management Inc. Reduces Stock Holdings in Cameco Corporation $CCJ

Cidel Asset Management Inc. decreased its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,000 shares of the basic materials company’s stock after selling 5,000 shares during the period. Cidel Asset Management Inc.’s holdings in Cameco were worth $7,132,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CCJ. Bison Wealth LLC lifted its stake in shares of Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC raised its holdings in Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cameco by 11.9% during the first 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 buying an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund bought a new stake in shares of Cameco during the 2nd quarter valued at $14,252,000. 70.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CCJ shares. Wall Street Zen raised shares of Cameco from a “sell” rating to a “hold” rating in a research report on Saturday. Barclays dropped their price objective on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Bank of America cut their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings lowered shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group started coverage on Cameco in a research report on Thursday, September 3rd. They issued a “buy” rating and a $138.00 price target on the stock. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus price target of $148.68.

Cameco Stock Performance

Shares of Cameco stock opened at $102.05 on Wednesday. Cameco Corporation has a 1 year low of $77.01 and a 1 year high of $135.24. The firm’s 50-day moving average is $95.20 and its 200 day moving average is $106.18. The stock has a market cap of $44.45 billion, a price-to-earnings ratio of 172.97, a PEG ratio of 1.72 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The firm had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 earnings per share. Sell-side analysts anticipate that Cameco Corporation will post 1.27 EPS 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.