Van ECK Associates Corp lowered its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 15.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,129 shares of the basic materials company’s stock after selling 26,074 shares during the quarter. Van ECK Associates Corp’s holdings in Cameco were worth $2,409,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of CCJ. Mirae Asset Global Investments Co. Ltd. raised its stake in Cameco by 79.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,095,190 shares of the basic materials company’s stock valued at $117,646,000 after buying an additional 3,144,278 shares during the last quarter. Bank of Montreal Can increased its position in Cameco by 50.8% during the first quarter. Bank of Montreal Can now owns 4,531,355 shares of the basic materials company’s stock valued at $79,934,000 after acquiring an additional 1,527,082 shares during the last quarter. Korea Investment CORP increased its position in Cameco by 113.6% during the first quarter. Korea Investment CORP now owns 158,325 shares of the basic materials company’s stock valued at $2,625,000 after acquiring an additional 84,200 shares during the last quarter. Ethic Inc. lifted its holdings in Cameco by 16.5% in the first quarter. Ethic Inc. now owns 19,939 shares of the basic materials company’s stock valued at $331,000 after acquiring an additional 2,817 shares during the period. Finally, William Blair Investment Management LLC grew its stake in shares of Cameco by 1.4% during the 1st quarter. William Blair Investment Management LLC now owns 15,628,923 shares of the basic materials company’s stock valued at $259,596,000 after purchasing an additional 218,233 shares during the period. 58.75% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Cameco from a “buy” rating to a “hold” rating in a report on Tuesday, April 13th. Royal Bank of Canada boosted their price objective on shares of Cameco from $15.00 to $17.00 and gave the company an “underperform” rating in a research report on Monday, May 10th. BMO Capital Markets cut Cameco from an “outperform” rating to a “market perform” rating in a research report on Monday, May 10th. TD Securities increased their target price on shares of Cameco from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Monday, May 10th. Finally, Cantor Fitzgerald raised shares of Cameco from a “hold” rating to a “buy” rating in a report on Monday, April 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $21.83.
Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, May 6th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. Cameco had a negative net margin of 2.02% and a negative return on equity of 2.47%. The firm had revenue of $290.00 million for the quarter, compared to analysts’ expectations of $363.81 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was down 16.2% compared to the same quarter last year. As a group, equities analysts forecast that Cameco Co. will post 0.05 earnings per share for the current year.
Cameco Corporation produces and sells uranium. It operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as 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.
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