Meitav Investment House Ltd. Sells 9,775 Shares of Cameco Corporation $CCJ

Meitav Investment House Ltd. lessened its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 40.3% in the first quarter, HoldingsChannel reports. The firm owned 14,509 shares of the basic materials company’s stock after selling 9,775 shares during the quarter. Meitav Investment House Ltd.’s holdings in Cameco were worth $1,576,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Clearstead Advisors LLC lifted its position in Cameco by 0.8% during the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock valued at $929,000 after buying an additional 85 shares during the period. Legacy Bridge LLC increased its stake in shares of Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock worth $1,053,000 after acquiring an additional 100 shares in the last quarter. HB Wealth Management LLC lifted its position in Cameco by 3.1% during the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after acquiring an additional 107 shares during the period. Groupama Asset Managment lifted its position in Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after acquiring an additional 108 shares during the period. Finally, S.A. Mason LLC boosted its stake in Cameco by 4.8% during the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 111 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CCJ has been the topic of a number of recent research reports. Scotiabank restated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. William Blair assumed coverage on shares of Cameco in a report on Monday, April 20th. They set an “outperform” rating for the company. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 price target on shares of Cameco in a research note on Monday, June 15th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.92.

Cameco Trading Down 2.9%

Shares of NYSE CCJ opened at $94.72 on Wednesday. The firm’s 50 day moving average price is $108.18 and its 200-day moving average price is $110.82. The company has a market cap of $41.25 billion, a PE ratio of 87.70, a P/E/G ratio of 1.78 and a beta of 1.02. Cameco Corporation has a 52-week low of $68.96 and a 52-week high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results 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 company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. On average, equities research analysts expect that Cameco Corporation will post 1.21 EPS for the current fiscal year.

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.