Cameco Corporation $CCJ Shares Sold by Guardian Capital LP

Guardian Capital LP cut its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 46.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 224,519 shares of the basic materials company’s stock after selling 198,367 shares during the quarter. Guardian Capital LP owned about 0.05% of Cameco worth $18,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Consulate Inc. purchased a new stake in Cameco in the 3rd quarter valued at about $25,000. Armstrong Advisory Group Inc. boosted its stake in Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after buying an additional 182 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Cameco during the third quarter valued at about $37,000. Tobam increased its position in shares of Cameco by 389.1% during the third quarter. Tobam now owns 450 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 358 shares during the last quarter. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Cameco in the 2nd quarter valued at approximately $35,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on CCJ shares. The Goldman Sachs Group restated a “buy” rating and issued a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Royal Bank Of Canada boosted their target price on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Glj Research restated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, UBS Group began coverage on Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.03.

Cameco Price Performance

Cameco stock opened at $109.77 on Friday. The firm has a market cap of $47.81 billion, a PE ratio of 113.16 and a beta of 0.98. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $135.24. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $114.36 and its two-hundred day moving average is $96.18.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping 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 business had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts expect 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.