Pinnbrook Capital Management LP Trims Position in Cameco Corporation $CCJ

Pinnbrook Capital Management LP decreased its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 75.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,343 shares of the basic materials company’s stock after selling 67,181 shares during the quarter. Pinnbrook Capital Management LP’s holdings in Cameco were worth $1,953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CCJ. Bison Wealth LLC lifted its stake in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC lifted its stake in shares of Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after buying an additional 1,361 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund purchased a new position in shares of Cameco during the second quarter valued at approximately $14,252,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of recent analyst reports. Canadian Imperial Bank of Commerce increased their price target on shares of Cameco to $202.00 in a research note on Monday, March 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. William Blair initiated coverage on shares of Cameco in a research note on Monday, April 20th. They set an “outperform” rating on the stock. Weiss Ratings downgraded shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus target price of $148.62.

Cameco Price Performance

Cameco stock opened at $105.47 on Friday. Cameco Corporation has a 52-week low of $51.70 and a 52-week high of $135.24. The firm has a fifty day moving average of $113.41 and a 200-day moving average of $107.20. The firm has a market capitalization of $45.94 billion, a P/E ratio of 97.66, a PEG ratio of 1.76 and a beta of 1.04. 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 (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, analysts predict that Cameco Corporation will post 1.32 EPS for the current 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.