Cumberland Partners Ltd Decreases Stake in Cameco Corporation $CCJ

Cumberland Partners Ltd lessened its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 183,472 shares of the basic materials company’s stock after selling 11,960 shares during the quarter. Cameco makes up approximately 1.0% of Cumberland Partners Ltd’s portfolio, making the stock its 28th biggest position. Cumberland Partners Ltd’s holdings in Cameco were worth $15,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Consulate Inc. purchased a new stake in Cameco during the 3rd quarter valued at $25,000. Armstrong Advisory Group Inc. raised its stake in shares of Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 182 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Cameco during the third quarter valued at about $37,000. Tobam boosted its holdings in shares of Cameco by 389.1% during the third quarter. Tobam now owns 450 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 358 shares during the period. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Cameco in the second quarter worth about $35,000. Institutional investors own 70.21% of the company’s stock.

Analysts Set New Price Targets

CCJ has been the subject of a number of recent analyst reports. Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research upgraded Cameco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. UBS Group started coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $143.03.

Cameco Trading Up 3.2%

NYSE:CCJ opened at $116.56 on Thursday. The firm has a market capitalization of $50.77 billion, a P/E ratio of 120.17 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.85. Cameco Corporation has a one year low of $35.00 and a one year high of $135.24. The company’s 50-day simple moving average is $107.72 and its 200 day simple moving average is $92.76.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. During the same period last year, the business earned $0.36 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. As a group, analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco 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.