Magnetar Financial LLC Sells 30,922 Shares of Cameco Corporation $CCJ

Magnetar Financial LLC decreased its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 38.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 49,266 shares of the basic materials company’s stock after selling 30,922 shares during the quarter. Magnetar Financial LLC’s holdings in Cameco were worth $4,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in CCJ. Norges Bank bought a new position in Cameco during the 4th quarter worth $443,265,000. TD Asset Management Inc increased its position in Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after buying an additional 2,489,207 shares during the period. Marshall Wace LLP increased its position in Cameco by 7,481.3% during the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after buying an additional 1,729,454 shares during the period. Van ECK Associates Corp increased its position in Cameco by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after buying an additional 1,644,061 shares during the period. Finally, Mizuho Markets Cayman LP bought a new position in Cameco during the 3rd quarter worth $128,370,000. Institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Canadian Imperial Bank of Commerce increased their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Scotiabank restated an “outperform” rating and issued a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Barclays assumed coverage on Cameco in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price target on the stock. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, William Blair assumed coverage on Cameco in a research report on Monday, April 20th. They issued an “outperform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.42.

Cameco Stock Performance

NYSE:CCJ opened at $107.86 on Wednesday. The stock’s 50-day simple moving average is $112.92 and its 200 day simple moving average is $109.54. The firm has a market capitalization of $46.97 billion, a PE ratio of 99.87, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. Cameco Corporation has a twelve month low of $67.60 and a twelve month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.Cameco’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. On average, analysts anticipate that Cameco Corporation will post 1.32 EPS for the current fiscal year.

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.