Meitav Investment House Ltd. Reduces Stock Position in Cameco Corporation $CCJ

Meitav Investment House Ltd. cut its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 40.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,509 shares of the basic materials company’s stock after selling 9,775 shares during the quarter. Meitav Investment House Ltd.’s holdings in Cameco were worth $1,576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bison Wealth LLC grew its holdings in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after purchasing an additional 2,975 shares in the last quarter. AQR Capital Management LLC lifted its position in Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after purchasing an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Cameco by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after buying an additional 64,512 shares in the last quarter. Finally, NewGen Equity Long Short Fund bought a new position in shares of Cameco in the 2nd quarter worth $14,252,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Performance

Shares of CCJ stock opened at $94.72 on Wednesday. The stock has a fifty day moving average of $108.18 and a 200 day moving average of $110.82. Cameco Corporation has a 52 week low of $68.96 and a 52 week high of $135.24. The firm has a market capitalization of $41.25 billion, a price-to-earnings ratio of 87.70, a PEG ratio of 1.78 and a beta of 1.02. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 earnings per share. As a group, research analysts expect that Cameco Corporation will post 1.21 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on CCJ shares. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Royal Bank Of Canada lifted their price target on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Scotiabank reiterated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Finally, Barclays initiated coverage on Cameco in a report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus price target of $148.92.

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.