Moors & Cabot Inc. Reduces Position in Cameco Co. (NYSE:CCJ)

Moors & Cabot Inc. lowered its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 34.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,524 shares of the basic materials company’s stock after selling 3,901 shares during the quarter. Moors & Cabot Inc.’s holdings in Cameco were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Cameco during the fourth quarter worth about $99,511,000. Massachusetts Financial Services Co. MA purchased a new position in Cameco in the 2nd quarter valued at $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Cameco in the 1st quarter valued at $31,131,000. CIBC Asset Management Inc raised its position in Cameco by 24.3% during the 4th quarter. CIBC Asset Management Inc now owns 2,319,455 shares of the basic materials company’s stock worth $100,324,000 after buying an additional 452,973 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Cameco in the 1st quarter worth $18,535,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on CCJ. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Bank of America lifted their price target on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Scotiabank cut their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Glj Research reaffirmed a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $67.25.

Cameco Trading Up 8.1 %

Shares of CCJ stock opened at $44.39 on Friday. Cameco Co. has a fifty-two week low of $35.18 and a fifty-two week high of $56.24. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $41.76 and a 200-day simple moving average of $46.47. The stock has a market cap of $19.32 billion, a P/E ratio of 113.82 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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 company had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. Cameco’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) EPS. On average, analysts forecast that Cameco Co. will post 0.96 earnings per share for the current fiscal year.

Cameco Profile

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.