Cumberland Partners Ltd Acquires New Stake in Cameco Corp (CCJ)
Cumberland Partners Ltd acquired a new stake in shares of Cameco Corp (NYSE:CCJ) (TSE:CCO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,735 shares of the basic materials company’s stock, valued at approximately $1,032,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Sigma Planning Corp bought a new position in Cameco during the second quarter valued at approximately $121,000. Usca Ria LLC bought a new position in Cameco during the first quarter valued at approximately $103,000. Atria Investments LLC bought a new position in Cameco during the second quarter valued at approximately $136,000. Pitcairn Co. bought a new position in Cameco during the first quarter valued at approximately $145,000. Finally, First Republic Investment Management Inc. boosted its stake in Cameco by 33.0% during the first quarter. First Republic Investment Management Inc. now owns 19,153 shares of the basic materials company’s stock valued at $174,000 after buying an additional 4,754 shares during the last quarter. Institutional investors own 51.24% of the company’s stock.
Several equities research analysts have recently issued reports on CCJ shares. ValuEngine raised Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. TD Securities raised Cameco from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. BMO Capital Markets lowered Cameco from an “outperform” rating to a “market perform” rating and set a $15.00 price objective for the company. in a research note on Thursday, July 26th. Zacks Investment Research raised Cameco from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Monday, April 30th. Finally, TheStreet lowered Cameco from a “c” rating to a “d+” rating in a research note on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.00.
Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, July 25th. The basic materials company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The firm had revenue of $333.00 million for the quarter, compared to analysts’ expectations of $392.80 million. Cameco had a positive return on equity of 1.61% and a negative net margin of 10.03%. The company’s revenue for the quarter was down 29.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) earnings per share. equities research analysts forecast that Cameco Corp will post 0.26 EPS for the current fiscal year.
Cameco Corporation produces and sells uranium worldwide. The company operates through three segments: Uranium, Fuel Services, and NUKEM. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrates. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; the Inkai property situated in Kazakhstan; the Smith Ranch-Highland property located in Wyoming, the United States; and the Crow Butte property situated in Nebraska, the United States.
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