Turn8 Private Wealth Inc. Sells 9,652 Shares of Cameco Corporation $CCJ

Turn8 Private Wealth Inc. cut its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 19.8% in the first quarter, HoldingsChannel.com reports. The firm owned 39,087 shares of the basic materials company’s stock after selling 9,652 shares during the quarter. Cameco comprises about 2.6% of Turn8 Private Wealth Inc.’s investment portfolio, making the stock its 18th biggest holding. Turn8 Private Wealth Inc.’s holdings in Cameco were worth $4,238,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sterling Capital Management LLC purchased a new stake in Cameco in the 1st quarter worth $30,000. Nisa Investment Advisors LLC purchased a new position in shares of Cameco in the fourth quarter valued at about $25,000. Brown Lisle Cummings Inc. lifted its position in shares of Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 288 shares in the last quarter. Founders Capital Management bought a new position in shares of Cameco in the fourth quarter worth about $27,000. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of Cameco in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Trading Down 0.2%

Shares of CCJ stock opened at $96.36 on Friday. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $41.97 billion, a price-to-earnings ratio of 89.22, a price-to-earnings-growth ratio of 1.76 and a beta of 1.02. Cameco Corporation has a 12-month low of $68.96 and a 12-month high of $135.24. The stock’s 50-day moving average price is $109.26 and its 200-day moving average price is $110.53.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million during 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%.The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 earnings per share. Equities research analysts predict that Cameco Corporation will post 1.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. William Blair assumed coverage on shares of Cameco in a report on Monday, April 20th. They set an “outperform” rating for the company. Scotiabank reiterated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada upped their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.92.

Cameco 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.