Magnetar Financial LLC Sells 30,922 Shares of Cameco Corporation $CCJ

Magnetar Financial LLC lessened its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 38.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,266 shares of the basic materials company’s stock after selling 30,922 shares during the quarter. Magnetar Financial LLC’s holdings in Cameco were worth $4,507,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in shares of Cameco in the 4th quarter valued at approximately $25,000. Founders Capital Management acquired a new stake in shares of Cameco in the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Cameco by 30,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after buying an additional 307 shares during the last quarter. Strategic Advocates LLC acquired a new stake in shares of Cameco in the 3rd quarter valued at approximately $28,000. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Trading Up 0.8%

Shares of Cameco stock opened at $107.86 on Wednesday. The business has a fifty day simple moving average of $112.92 and a two-hundred day simple moving average of $109.54. Cameco Corporation has a 1 year low of $67.60 and a 1 year high of $135.24. The company has a market capitalization of $46.97 billion, a price-to-earnings ratio of 99.87, a P/E/G ratio of 1.81 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same quarter last year, the firm posted $0.16 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts forecast that Cameco Corporation will post 1.32 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CCJ shares. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Scotiabank reaffirmed an “outperform” rating and set a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price target on shares of Cameco in a report on Monday. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.42.

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.