Turn8 Private Wealth Inc. Sells 9,652 Shares of Cameco Corporation $CCJ

Turn8 Private Wealth Inc. lowered its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 19.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 39,087 shares of the basic materials company’s stock after selling 9,652 shares during the period. Cameco makes up approximately 2.6% of Turn8 Private Wealth Inc.’s holdings, making the stock its 18th biggest position. Turn8 Private Wealth Inc.’s holdings in Cameco were worth $4,238,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CCJ. Sterling Capital Management LLC purchased a new stake in Cameco in the first quarter worth approximately $30,000. Nisa Investment Advisors LLC bought a new stake in Cameco in the 4th quarter worth approximately $25,000. Brown Lisle Cummings Inc. raised its stake in Cameco by 3,200.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after buying an additional 288 shares during the last quarter. Founders Capital Management purchased a new stake in Cameco during the 4th quarter valued at $27,000. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of Cameco during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CCJ. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Scotiabank reiterated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Finally, William Blair assumed coverage on Cameco in a research report on Monday, April 20th. They issued an “outperform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.92.

Cameco Trading Down 0.2%

Shares of CCJ stock opened at $96.36 on Friday. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24. The firm has a fifty day moving average price of $109.26 and a 200-day moving average price of $110.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The company has a market cap of $41.97 billion, a price-to-earnings ratio of 89.22, a PEG ratio of 1.76 and a beta of 1.02.

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

Cameco Company 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.