Guardian Capital LP Cuts Holdings in Cameco Corporation $CCJ

Guardian Capital LP lowered its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 46.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,519 shares of the basic materials company’s stock after selling 198,367 shares during the period. Guardian Capital LP’s holdings in Cameco were worth $18,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in CCJ. Financial Consulate Inc. acquired a new position in shares of Cameco during the third quarter worth about $25,000. Armstrong Advisory Group Inc. raised its holdings in Cameco by 110.3% in the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 182 shares in the last quarter. VSM Wealth Advisory LLC acquired a new stake in Cameco in the second quarter valued at approximately $35,000. Cullen Frost Bankers Inc. purchased a new position in Cameco in the third quarter worth approximately $37,000. Finally, Tobam lifted its stake in Cameco by 389.1% in the third quarter. Tobam now owns 450 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Down 3.9%

Shares of NYSE:CCJ opened at $109.77 on Friday. The firm has a 50 day simple moving average of $114.36 and a 200-day simple moving average of $96.18. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $135.24. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $47.81 billion, a PE ratio of 113.16 and a beta of 0.98.

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

Analyst Ratings Changes

CCJ has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Wall Street Zen downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group assumed coverage on Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 price target on the stock. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.03.

About Cameco

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.