Essex Financial Services Inc. Sells 1,063 Shares of Cameco Co. (NYSE:CCJ)

Essex Financial Services Inc. trimmed its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 11.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,115 shares of the basic materials company’s stock after selling 1,063 shares during the period. Essex Financial Services Inc.’s holdings in Cameco were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in shares of Cameco by 5.8% during the 3rd quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock valued at $307,300,000 after buying an additional 428,310 shares during the period. Guardian Capital LP boosted its position in Cameco by 40.7% in the third quarter. Guardian Capital LP now owns 864,304 shares of the basic materials company’s stock worth $34,451,000 after purchasing an additional 250,115 shares during the last quarter. Foster Victor Wealth Advisors LLC bought a new stake in shares of Cameco during the 4th quarter valued at about $3,956,000. Financial Insights Inc. purchased a new stake in shares of Cameco during the 3rd quarter valued at about $1,942,000. Finally, Platinum Investment Management Ltd. lifted its stake in shares of Cameco by 156.3% in the 3rd quarter. Platinum Investment Management Ltd. now owns 3,089,235 shares of the basic materials company’s stock worth $122,605,000 after purchasing an additional 1,884,004 shares during the period. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

Shares of NYSE CCJ opened at $48.41 on Friday. The stock has a market cap of $21.02 billion, a PE ratio of 124.13 and a beta of 0.92. Cameco Co. has a 1 year low of $26.15 and a 1 year high of $52.64. The firm has a fifty day moving average price of $45.07 and a 200-day moving average price of $44.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.42 and a quick ratio of 0.97.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, February 8th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). The business had revenue of $620.00 million for the quarter. Cameco had a net margin of 9.28% and a return on equity of 4.60%. Equities analysts anticipate that Cameco Co. will post 1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Cameco in a research report on Monday, April 1st. They set a “buy” rating and a $55.00 target price for the company. StockNews.com lowered Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.75.

Cameco Company 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.