Cameco Corporation $CCJ Shares Sold by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. reduced its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,768 shares of the basic materials company’s stock after selling 5,892 shares during the quarter. Cameco makes up 2.9% of Turn8 Private Wealth Inc.’s investment portfolio, making the stock its 15th biggest holding. Turn8 Private Wealth Inc.’s holdings in Cameco were worth $4,095,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CCJ. Vanguard Group Inc. boosted its holdings in Cameco by 1.3% in the third quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock valued at $1,493,978,000 after purchasing an additional 235,613 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after buying an additional 2,071,373 shares during the last quarter. Norges Bank acquired a new position in shares of Cameco in the 2nd quarter valued at $341,736,000. Geode Capital Management LLC boosted its holdings in shares of Cameco by 20.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,372,878 shares of the basic materials company’s stock valued at $250,797,000 after buying an additional 578,393 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Cameco by 26.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,230,360 shares of the basic materials company’s stock valued at $240,269,000 after buying an additional 672,605 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CCJ. The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Scotiabank reiterated an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 target price on shares of Cameco in a research report on Thursday, February 5th. Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Cameco currently has a consensus rating of “Buy” and a consensus price target of $131.39.

Cameco Stock Down 2.8%

Cameco stock opened at $113.10 on Tuesday. The stock has a 50 day moving average of $106.87 and a two-hundred day moving average of $92.31. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $135.24. The stock has a market capitalization of $49.25 billion, a price-to-earnings ratio of 116.60 and a beta of 0.99. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. Cameco had a return on equity of 9.43% and a net margin of 17.00%.The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. As a group, research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

About Cameco

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.