CIBC Asset Management Inc Trims Stake in Cameco Co. (NYSE:CCJ)

CIBC Asset Management Inc trimmed its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 13.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,391,227 shares of the basic materials company’s stock after selling 386,509 shares during the quarter. CIBC Asset Management Inc owned 0.55% of Cameco worth $117,577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC lifted its stake in Cameco by 235.3% in the first quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 400 shares during the period. LRI Investments LLC purchased a new stake in shares of Cameco in the 1st quarter worth approximately $26,000. Principal Securities Inc. bought a new position in shares of Cameco during the fourth quarter valued at approximately $29,000. Lindbrook Capital LLC increased its holdings in Cameco by 26.0% during the first quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock valued at $46,000 after buying an additional 221 shares during the period. Finally, Larson Financial Group LLC raised its stake in Cameco by 99.3% in the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after buying an additional 600 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Glj Research reiterated a “buy” rating and issued a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. Bank of America boosted their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a report on Wednesday, June 26th. The Goldman Sachs Group lifted their price objective on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, Scotiabank decreased their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and a consensus target price of $65.37.

Cameco Stock Performance

Shares of NYSE:CCJ traded up $0.59 during trading on Monday, hitting $40.84. 2,646,900 shares of the stock traded hands, compared to its average volume of 4,345,458. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average price of $45.08 and a two-hundred day moving average price of $46.73. Cameco Co. has a 52-week low of $35.18 and a 52-week high of $56.24. The company has a market cap of $17.77 billion, a price-to-earnings ratio of 104.72 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The firm had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. As a group, equities analysts predict that Cameco Co. will post 1.06 EPS for the current year.

About Cameco

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.