Sage Rhino Capital LLC Trims Position in Cameco Corporation $CCJ

Sage Rhino Capital LLC cut its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 58.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,844 shares of the basic materials company’s stock after selling 6,708 shares during the period. Sage Rhino Capital LLC’s holdings in Cameco were worth $526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Cameco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after acquiring an additional 258,193 shares during the last quarter. Capital World Investors increased its holdings in Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after purchasing an additional 41,430 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cameco by 0.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after purchasing an additional 85,762 shares during the period. Van ECK Associates Corp raised its position in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after purchasing an additional 849,188 shares during the period. Finally, Morgan Stanley lifted its stake in Cameco by 7.0% during the 4th quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock worth $455,468,000 after acquiring an additional 323,693 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analyst Ratings Changes

CCJ has been the subject of several recent research reports. Canadian Imperial Bank of Commerce raised their price target on shares of Cameco to $202.00 in a research report on Monday, March 9th. Royal Bank Of Canada boosted their price objective on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. William Blair initiated coverage on shares of Cameco in a report on Monday, April 20th. They issued an “outperform” rating on the stock. Finally, TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Cameco has an average rating of “Moderate Buy” and a consensus price target of $148.92.

Cameco Stock Performance

Shares of Cameco stock traded down $3.57 on Tuesday, hitting $93.93. The stock had a trading volume of 1,271,637 shares, compared to its average volume of 3,671,383. The stock has a market cap of $40.91 billion, a price-to-earnings ratio of 87.41, a P/E/G ratio of 1.76 and a beta of 1.02. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 52-week low of $68.96 and a 52-week high of $135.24. The company’s 50 day moving average price is $108.73 and its 200 day moving average price is $110.75.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts anticipate that Cameco Corporation will post 1.21 EPS for the current year.

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.