Quantinno Capital Management LP Cuts Stock Holdings in Cameco Corporation $CCJ

Quantinno Capital Management LP reduced its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 86,903 shares of the basic materials company’s stock after selling 9,071 shares during the period. Quantinno Capital Management LP’s holdings in Cameco were worth $9,439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in shares of Cameco in the fourth quarter worth about $443,265,000. Marshall Wace LLP boosted its stake in Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after buying an additional 1,729,454 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Cameco by 14,338.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after buying an additional 1,104,378 shares in the last quarter. Man Group plc grew its holdings in Cameco by 126.3% during the 3rd quarter. Man Group plc now owns 1,698,728 shares of the basic materials company’s stock valued at $142,455,000 after buying an additional 948,068 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in Cameco by 1,339.8% in the 4th quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock worth $88,247,000 after acquiring an additional 897,558 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Bank of America decreased their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Truist Financial assumed coverage on shares of Cameco in a research report on Monday, July 13th. They issued a “buy” rating and a $129.00 price target on the stock. Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Scotiabank reiterated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada lifted their price objective on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $145.60.

Cameco Trading Up 3.8%

Shares of CCJ stock opened at $93.14 on Wednesday. The company has a market cap of $40.56 billion, a PE ratio of 157.86, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.09. The stock’s 50 day simple moving average is $98.84 and its two-hundred day simple moving average is $109.66. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. During the same period in the prior year, the firm posted $0.71 EPS. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. Research analysts predict that Cameco Corporation will post 1.31 earnings per share for the current year.

Cameco Company 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.