Polen Capital Management LLC Cuts Holdings in Cameco Corporation $CCJ

Polen Capital Management LLC reduced its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 27.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,174 shares of the basic materials company’s stock after selling 10,448 shares during the period. Polen Capital Management LLC’s holdings in Cameco were worth $2,578,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after buying an additional 258,193 shares during the period. Capital World Investors raised its position in shares of Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after buying an additional 41,430 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Cameco by 0.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock worth $1,089,080,000 after buying an additional 85,762 shares during the period. Van ECK Associates Corp raised its position in shares of Cameco by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after buying an additional 1,644,061 shares during the period. Finally, Norges Bank purchased a new position in shares of Cameco in the 4th quarter worth $443,265,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCJ has been the topic of several research reports. Glj Research reaffirmed a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Barclays initiated coverage on Cameco in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price objective on the stock. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Canadian Imperial Bank of Commerce raised their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

Cameco Trading Up 4.2%

NYSE:CCJ opened at $98.97 on Friday. The business’s 50-day moving average is $113.33 and its two-hundred day moving average is $109.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. Cameco Corporation has a 12 month low of $64.84 and a 12 month high of $135.24. The firm has a market capitalization of $43.11 billion, a PE ratio of 91.64, a price-to-earnings-growth ratio of 1.61 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating 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 period last year, the company posted $0.16 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Cameco Corporation will post 1.31 earnings per share for the current fiscal 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.