Cumberland Partners Ltd Decreases Position in Cameco Corporation $CCJ

Cumberland Partners Ltd reduced its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 6.1% in the third quarter, Holdings Channel.com reports. The fund owned 183,472 shares of the basic materials company’s stock after selling 11,960 shares during the period. Cameco makes up about 1.0% of Cumberland Partners Ltd’s investment portfolio, making the stock its 28th largest position. Cumberland Partners Ltd’s holdings in Cameco were worth $15,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CCJ. King Luther Capital Management Corp increased its holdings in shares of Cameco by 7.2% in the 3rd quarter. King Luther Capital Management Corp now owns 1,065,310 shares of the basic materials company’s stock worth $89,337,000 after purchasing an additional 71,283 shares in the last quarter. L & S Advisors Inc boosted its position in shares of Cameco by 35.5% during the third quarter. L & S Advisors Inc now owns 73,674 shares of the basic materials company’s stock valued at $6,178,000 after buying an additional 19,292 shares during the last quarter. Essex Financial Services Inc. increased its holdings in Cameco by 7.6% in the 3rd quarter. Essex Financial Services Inc. now owns 4,177 shares of the basic materials company’s stock worth $350,000 after buying an additional 295 shares in the last quarter. Syon Capital LLC raised its position in Cameco by 16.1% in the 3rd quarter. Syon Capital LLC now owns 8,121 shares of the basic materials company’s stock worth $681,000 after buying an additional 1,124 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. lifted its stake in Cameco by 7.3% during the 3rd quarter. Burke & Herbert Bank & Trust Co. now owns 14,000 shares of the basic materials company’s stock valued at $1,174,000 after acquiring an additional 950 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Trading Up 3.2%

CCJ opened at $116.56 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.85 and a current ratio of 2.47. The stock’s 50 day moving average price is $107.72 and its 200-day moving average price is $92.76. Cameco Corporation has a one year low of $35.00 and a one year high of $135.24. The stock has a market cap of $50.77 billion, a price-to-earnings ratio of 120.17 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. On average, equities analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on CCJ. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. Zacks Research raised shares of Cameco from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cameco in a report on Monday, December 29th. Royal Bank Of Canada increased their price target on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 target price on shares of Cameco in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Cameco currently has a consensus rating of “Buy” and an average price target of $143.03.

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.