Commonwealth Equity Services LLC Lowers Stock Position in Cameco Co. (NYSE:CCJ)

Commonwealth Equity Services LLC lessened its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,506 shares of the basic materials company’s stock after selling 5,621 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Cameco were worth $3,011,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CCJ. Venturi Wealth Management LLC raised its holdings in Cameco by 235.3% in the first quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 400 shares in the last quarter. Principal Securities Inc. acquired a new stake in Cameco in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc acquired a new stake in Cameco in the fourth quarter valued at approximately $34,000. Sandy Spring Bank acquired a new stake in Cameco in the fourth quarter valued at approximately $43,000. Finally, Lindbrook Capital LLC raised its holdings in Cameco by 26.0% in the first quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 221 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CCJ. StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. The Goldman Sachs Group increased their price target on shares of Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Finally, Bank of America increased their price target on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and an average target price of $63.70.

Cameco Price Performance

Shares of NYSE:CCJ traded down $0.54 during midday trading on Friday, hitting $50.02. 969,011 shares of the stock were exchanged, compared to its average volume of 4,416,863. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17. The stock has a market cap of $21.76 billion, a P/E ratio of 129.46 and a beta of 0.91. The company has a 50 day moving average price of $51.55 and a 200-day moving average price of $47.15. Cameco Co. has a twelve month low of $29.17 and a twelve month high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.23). The business had revenue of $470.29 million during the quarter. Cameco had a net margin of 9.28% and a return on equity of 4.60%. On average, research analysts forecast that Cameco Co. will post 1.35 earnings per share for the current year.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.