Gabelli Funds LLC Cuts Stake in Cameco Corporation $CCJ

Gabelli Funds LLC lowered its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 363,073 shares of the basic materials company’s stock after selling 5,122 shares during the period. Gabelli Funds LLC’s holdings in Cameco were worth $33,218,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new position in shares of Cameco during the fourth quarter valued at $25,000. Founders Capital Management purchased a new position in shares of Cameco during the fourth quarter valued at $27,000. Strategic Advocates LLC purchased a new position in shares of Cameco during the third quarter valued at $28,000. Sunbelt Securities Inc. increased its stake in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after buying an additional 325 shares during the period. Finally, Delos Wealth Advisors LLC increased its stake in shares of Cameco by 60.0% during the third quarter. Delos Wealth Advisors LLC now owns 400 shares of the basic materials company’s stock valued at $34,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CCJ. Scotiabank restated an “outperform” rating and set a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. The Goldman Sachs Group restated a “buy” rating and set a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. William Blair began coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Canadian Imperial Bank of Commerce raised their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Finally, Glj Research reaffirmed a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Cameco has an average rating of “Moderate Buy” and an average price target of $153.13.

Cameco Price Performance

Shares of CCJ stock opened at $107.58 on Monday. Cameco Corporation has a 1-year low of $50.03 and a 1-year high of $135.24. The stock’s 50-day moving average is $114.26 and its 200 day moving average is $107.22. The company has a market cap of $46.85 billion, a P/E ratio of 99.61, a PEG ratio of 1.81 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating 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 the consensus estimate of $598.63 million. During the same quarter last year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts predict that Cameco Corporation will post 1.32 earnings per share 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.