D.A. Davidson & CO. Reduces Position in Cameco Corporation $CCJ

D.A. Davidson & CO. reduced its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 11.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 75,880 shares of the basic materials company’s stock after selling 9,700 shares during the quarter. D.A. Davidson & CO.’s holdings in Cameco were worth $8,241,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bison Wealth LLC grew its holdings in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC grew its stake in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund purchased a new stake in shares of Cameco in the second quarter valued at about $14,252,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Price Performance

Cameco stock opened at $85.61 on Friday. The business’s 50-day simple moving average is $103.83 and its 200 day simple moving average is $110.67. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 12-month low of $68.96 and a 12-month high of $135.24. The stock has a market cap of $37.28 billion, a price-to-earnings ratio of 79.27, a P/E/G ratio of 1.43 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly 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 analyst estimates of $598.63 million. During the same quarter last year, the firm posted $0.16 earnings per share. Cameco’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that Cameco Corporation will post 1.29 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on CCJ shares. Citigroup reiterated a “positive” rating on shares of Cameco in a research report on Wednesday. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Barclays lowered their price objective on Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday. William Blair assumed coverage on shares of Cameco in a report on Monday, April 20th. They issued an “outperform” rating on the stock. Finally, Scotiabank reiterated an “outperform” rating and issued a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $146.18.

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.