Turn8 Private Wealth Inc. Cuts Holdings in Cameco Corporation $CCJ

Turn8 Private Wealth Inc. reduced its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 10.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 48,768 shares of the basic materials company’s stock after selling 5,892 shares during the quarter. Cameco accounts for about 2.9% of Turn8 Private Wealth Inc.’s investment portfolio, making the stock its 15th biggest holding. Turn8 Private Wealth Inc.’s holdings in Cameco were worth $4,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in Cameco by 3.1% in the third quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock valued at $330,000 after acquiring an additional 120 shares during the period. Lee Johnson Capital Management LLC grew its stake in shares of Cameco by 1.2% during the 3rd quarter. Lee Johnson Capital Management LLC now owns 10,770 shares of the basic materials company’s stock worth $903,000 after purchasing an additional 127 shares during the period. Wealth Alliance LLC increased its holdings in shares of Cameco by 1.6% in the 2nd quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company’s stock valued at $745,000 after purchasing an additional 154 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Cameco by 11.2% in the third quarter. Versant Capital Management Inc now owns 1,590 shares of the basic materials company’s stock valued at $133,000 after purchasing an additional 160 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Cameco by 4.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 3,758 shares of the basic materials company’s stock valued at $315,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CCJ. Zacks Research raised shares of Cameco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a research note on Thursday, February 5th. Royal Bank Of Canada reduced their price objective on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. National Bank Financial reissued an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $131.39.

Cameco Trading Down 2.8%

Cameco stock opened at $113.10 on Tuesday. The stock has a 50-day moving average price of $106.87 and a 200 day moving average price of $92.31. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $135.24. The stock has a market cap of $49.25 billion, a PE ratio of 116.60 and a beta of 0.99. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.43%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. Equities research analysts predict that Cameco Corporation will post 1.27 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.