Cameco Corporation $CCJ Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,036,470 shares of the basic materials company’s stock after selling 93,400 shares during the quarter. Primecap Management Co. CA’s holdings in Cameco were worth $86,918,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Cameco during the second quarter worth approximately $341,736,000. TD Asset Management Inc grew its position in shares of Cameco by 116.7% during the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after acquiring an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after acquiring an additional 2,071,373 shares during the period. Acadian Asset Management LLC raised its position in Cameco by 1,428.6% in the 2nd quarter. Acadian Asset Management LLC now owns 978,300 shares of the basic materials company’s stock valued at $72,505,000 after purchasing an additional 914,300 shares during the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in Cameco in the 2nd quarter valued at $66,781,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Trading Down 1.3%

NYSE CCJ opened at $118.15 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $51.46 billion, a P/E ratio of 121.80 and a beta of 0.99. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $135.24. The firm has a 50-day moving average price of $111.35 and a 200 day moving average price of $94.46.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. Equities research analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several research reports. UBS Group began coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. The Goldman Sachs Group restated a “buy” rating and issued a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. National Bank Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada lifted their target price on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.03.

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.