Azarias Capital Management L.P. Sells 199,301 Shares of Cameco Co. (NYSE:CCJ)

Azarias Capital Management L.P. reduced its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 43.2% during the first quarter, HoldingsChannel reports. The firm owned 262,135 shares of the basic materials company’s stock after selling 199,301 shares during the quarter. Cameco accounts for about 4.8% of Azarias Capital Management L.P.’s investment portfolio, making the stock its 9th largest holding. Azarias Capital Management L.P.’s holdings in Cameco were worth $11,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Principal Securities Inc. bought a new position in Cameco in the 4th quarter valued at approximately $29,000. Versant Capital Management Inc bought a new stake in shares of Cameco in the 4th quarter valued at $34,000. Sandy Spring Bank bought a new stake in shares of Cameco in the 4th quarter valued at $43,000. Blue Trust Inc. increased its stake in shares of Cameco by 57.5% in the 4th quarter. Blue Trust Inc. now owns 1,427 shares of the basic materials company’s stock valued at $57,000 after acquiring an additional 521 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in Cameco in the 4th quarter valued at $97,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, June 7th. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. Finally, Bank of America lifted their price objective on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.70.

Cameco Stock Performance

Shares of NYSE CCJ traded up $0.83 during mid-day trading on Thursday, reaching $50.56. 1,651,589 shares of the company’s stock were exchanged, compared to its average volume of 2,557,252. The firm has a market capitalization of $22.00 billion, a price-to-earnings ratio of 129.64 and a beta of 0.91. Cameco Co. has a 52 week low of $29.17 and a 52 week high of $56.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.42 and a quick ratio of 0.69. The firm has a 50-day moving average price of $51.55 and a two-hundred day moving average price of $47.15.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, April 30th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.23). The business had revenue of $470.29 million for the quarter. Cameco had a return on equity of 4.60% and a net margin of 9.28%. Analysts predict that Cameco Co. will post 1.35 EPS 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.