Intact Investment Management Inc. Sells 93,240 Shares of Cameco Corporation (NYSE:CCJ)

Intact Investment Management Inc. lowered its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 37.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,640 shares of the basic materials company’s stock after selling 93,240 shares during the quarter. Intact Investment Management Inc.’s holdings in Cameco were worth $6,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Hurley Capital LLC bought a new stake in Cameco during the fourth quarter valued at about $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Cameco during the fourth quarter valued at about $28,000. Whipplewood Advisors LLC bought a new stake in Cameco during the fourth quarter valued at about $33,000. Copia Wealth Management purchased a new stake in Cameco in the fourth quarter valued at about $39,000. Finally, Ameriflex Group Inc. purchased a new stake in Cameco in the fourth quarter valued at about $40,000. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Down 1.9%

Shares of CCJ stock opened at $68.33 on Friday. The stock has a 50 day moving average of $53.72 and a 200 day moving average of $49.86. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15. The stock has a market cap of $29.75 billion, a P/E ratio of 170.83 and a beta of 0.97. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $71.31.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $549.58 million for the quarter, compared to analysts’ expectations of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The firm’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. As a group, sell-side analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CCJ. Stifel Canada upgraded Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Glj Research restated a “buy” rating and issued a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. UBS Group restated a “buy” rating on shares of Cameco in a research note on Tuesday, June 10th. Royal Bank Of Canada raised their price objective on Cameco from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the stock an “outperform” rating in a research note on Tuesday, June 10th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Cameco has a consensus rating of “Buy” and an average target price of $77.30.

About Cameco

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.