Fortis Group Advisors LLC Decreases Stock Holdings in Cameco Corporation (NYSE:CCJ)

Fortis Group Advisors LLC reduced its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 5.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,157 shares of the basic materials company’s stock after selling 386 shares during the period. Fortis Group Advisors LLC’s holdings in Cameco were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Capital Wealth Advisors acquired a new stake in shares of Cameco during the 4th quarter worth approximately $839,000. Nicholson Meyer Capital Management Inc. acquired a new position in Cameco in the 1st quarter valued at about $350,000. Balefire LLC grew its position in Cameco by 42.9% in the 1st quarter. Balefire LLC now owns 33,601 shares of the basic materials company’s stock valued at $1,383,000 after acquiring an additional 10,081 shares in the last quarter. Galibier Capital Management Ltd. acquired a new position in shares of Cameco during the first quarter worth about $11,655,000. Finally, FNY Investment Advisers LLC lifted its stake in Cameco by 583.2% in the first quarter. FNY Investment Advisers LLC now owns 21,500 shares of the basic materials company’s stock valued at $884,000 after buying an additional 18,353 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a report on Tuesday, July 8th. Glj Research reiterated a “buy” rating and issued a $75.27 target price 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. Wall Street Zen raised Cameco from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group boosted their price objective on Cameco from $65.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $80.65.

Cameco Stock Up 2.4%

Shares of NYSE:CCJ opened at $78.04 on Friday. The company has a market capitalization of $33.97 billion, a PE ratio of 195.11 and a beta of 1.03. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $78.85. The company has a fifty day moving average of $64.82 and a 200-day moving average of $52.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70.

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

Cameco Company Profile

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.