Cameco Co. (NYSE:CCJ) Position Trimmed by Sterling Investment Management LLC

Sterling Investment Management LLC trimmed its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 1.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 60,607 shares of the basic materials company’s stock after selling 953 shares during the quarter. Cameco makes up about 1.5% of Sterling Investment Management LLC’s portfolio, making the stock its 20th biggest position. Sterling Investment Management LLC’s holdings in Cameco were worth $1,899,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CCJ. Capital World Investors lifted its holdings in shares of Cameco by 402.0% during the first quarter. Capital World Investors now owns 10,131,797 shares of the basic materials company’s stock valued at $295,084,000 after purchasing an additional 8,113,385 shares during the last quarter. FMR LLC lifted its holdings in shares of Cameco by 44.1% in the first quarter. FMR LLC now owns 21,302,221 shares of the basic materials company’s stock valued at $557,732,000 after purchasing an additional 6,521,454 shares in the last quarter. FIL Ltd acquired a new stake in shares of Cameco in the first quarter worth $168,002,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cameco by 37.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,068,688 shares of the basic materials company’s stock valued at $497,555,000 after buying an additional 4,644,453 shares in the last quarter. Finally, Perpetual Ltd acquired a new position in Cameco during the first quarter valued at $117,233,000. 66.57% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Down 1.2 %

NYSE CCJ traded down $0.47 on Tuesday, reaching $39.94. The stock had a trading volume of 732,324 shares, compared to its average volume of 4,279,431. The company has a current ratio of 3.64, a quick ratio of 3.00 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of 266.93, a P/E/G ratio of 1.09 and a beta of 1.00. The business has a 50 day moving average price of $35.10 and a 200 day moving average price of $30.28. Cameco Co. has a 1 year low of $21.02 and a 1 year high of $41.65.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). The business had revenue of $482.00 million during the quarter, compared to analyst estimates of $636.37 million. Cameco had a net margin of 4.67% and a return on equity of 2.74%. Cameco’s revenue was down 13.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. On average, analysts forecast that Cameco Co. will post 0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several research analyst reports. Cantor Fitzgerald downgraded Cameco from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. StockNews.com initiated coverage on Cameco in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Scotiabank reduced their price objective on Cameco from C$50.00 to C$49.00 in a research note on Wednesday, June 28th. Bank of America upped their price objective on shares of Cameco from C$50.00 to C$59.00 and gave the company a “buy” rating in a research note on Tuesday, September 5th. Finally, TD Securities upped their price objective on shares of Cameco from C$51.00 to C$55.00 and gave the company an “action list buy” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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.