Picton Mahoney Asset Management Sells 241,151 Shares of Cameco Corporation $CCJ

Picton Mahoney Asset Management lessened its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 34.5% in the third quarter, Holdings Channel reports. The institutional investor owned 457,311 shares of the basic materials company’s stock after selling 241,151 shares during the quarter. Picton Mahoney Asset Management’s holdings in Cameco were worth $38,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Consulate Inc. purchased a new position in Cameco during the third quarter valued at approximately $25,000. Armstrong Advisory Group Inc. boosted its holdings in Cameco by 110.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 182 shares during the period. VSM Wealth Advisory LLC purchased a new position in shares of Cameco during the 2nd quarter valued at $35,000. Creative Financial Designs Inc. ADV grew its position in shares of Cameco by 936.2% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 440 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Cameco in the third quarter worth $37,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CCJ shares. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Wall Street Zen cut Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Glj Research reaffirmed a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Finally, Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.03.

Cameco Price Performance

Shares of Cameco stock opened at $117.74 on Wednesday. The firm has a market capitalization of $51.28 billion, a PE ratio of 121.38 and a beta of 0.98. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $135.24. The business’s 50-day moving average price is $113.08 and its 200-day moving average price is $95.65.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Cameco’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts forecast 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.