Mackenzie Financial Corp Sells 395,364 Shares of Cameco Corporation $CCJ

Mackenzie Financial Corp lowered its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 30.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 895,172 shares of the basic materials company’s stock after selling 395,364 shares during the quarter. Mackenzie Financial Corp’s holdings in Cameco were worth $75,112,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Financial Consulate Inc. acquired a new position in shares of Cameco during the third quarter worth approximately $25,000. Armstrong Advisory Group Inc. boosted its position in shares of Cameco by 110.3% in the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 182 shares during the period. VSM Wealth Advisory LLC acquired a new stake in shares of Cameco in the second quarter worth $35,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Cameco in the third quarter worth $37,000. Finally, Tobam increased its position in Cameco by 389.1% during the third quarter. Tobam now owns 450 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 358 shares during the period. 70.21% of the stock is owned by institutional investors.

Cameco Price Performance

Shares of Cameco stock opened at $115.37 on Thursday. The firm has a market cap of $50.25 billion, a P/E ratio of 118.94 and a beta of 0.98. The firm’s 50-day simple moving average is $115.89 and its 200-day simple moving average is $97.28. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly 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. The firm had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. As a group, research analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCJ. The Goldman Sachs Group reiterated a “buy” rating and set a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. Sanford C. Bernstein restated an “outperform” rating and set a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Finally, Canadian Imperial Bank of Commerce lifted their target price on Cameco to $202.00 in a research report on Monday. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.40.

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.