Cameco Co. (NYSE:CCJ) is Progeny 3 Inc.’s Largest Position

Progeny 3 Inc. reduced its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,985,626 shares of the basic materials company’s stock after selling 123,306 shares during the period. Cameco accounts for about 9.7% of Progeny 3 Inc.’s investment portfolio, making the stock its biggest position. Progeny 3 Inc. owned about 0.46% of Cameco worth $97,693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in Cameco during the second quarter valued at $422,000. Interval Partners LP purchased a new stake in shares of Cameco during the 2nd quarter valued at about $2,441,000. Public Sector Pension Investment Board lifted its holdings in shares of Cameco by 6.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 58,870 shares of the basic materials company’s stock valued at $2,896,000 after acquiring an additional 3,332 shares during the last quarter. Beck Capital Management LLC grew its position in Cameco by 1.2% in the second quarter. Beck Capital Management LLC now owns 134,157 shares of the basic materials company’s stock worth $6,601,000 after acquiring an additional 1,538 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Cameco by 445.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,220 shares of the basic materials company’s stock worth $146,000 after acquiring an additional 2,630 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Cameco Price Performance

CCJ opened at $46.02 on Tuesday. The company has a market capitalization of $20.03 billion, a price-to-earnings ratio of 118.00 and a beta of 0.90. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. Cameco Co. has a 12-month low of $35.18 and a 12-month high of $56.24. The business’s fifty day simple moving average is $41.64 and its 200-day simple moving average is $46.56.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The business had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period last year, the business posted ($0.01) EPS. On average, equities research analysts anticipate that Cameco Co. will post 0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CCJ has been the subject of several analyst reports. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group lifted their price objective on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Glj Research reissued a “buy” rating and issued a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank reduced their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cameco has a consensus rating of “Buy” and an average target price of $67.25.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.