Moore Capital Management LP Cuts Stake in Cameco Corporation $CCJ

Moore Capital Management LP lessened its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 41.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 275,000 shares of the basic materials company’s stock after selling 191,475 shares during the period. Moore Capital Management LP’s holdings in Cameco were worth $25,160,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Cameco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after buying an additional 258,193 shares during the last quarter. Capital World Investors lifted its position in shares of Cameco by 0.3% during the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after buying an additional 41,430 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after buying an additional 85,762 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Cameco by 15.6% during the 4th quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after buying an additional 849,188 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Cameco by 7.0% during the 4th quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock valued at $455,468,000 after buying an additional 323,693 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CCJ. William Blair began coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Cameco to $202.00 in a research note on Monday, March 9th. Finally, Barclays started coverage on shares of Cameco in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price objective for the company. 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, Cameco currently has an average rating of “Moderate Buy” and an average price target of $147.42.

Cameco Stock Performance

Shares of CCJ opened at $105.70 on Thursday. The stock’s 50-day simple moving average is $112.82 and its 200 day simple moving average is $109.66. The stock has a market capitalization of $46.04 billion, a price-to-earnings ratio of 97.87, a price-to-earnings-growth ratio of 1.97 and a beta of 0.99. 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 Corporation has a 52-week low of $67.60 and a 52-week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 EPS. Research analysts forecast that Cameco Corporation will post 1.21 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.