Regal Partners Ltd Lowers Stake in Cameco Corporation $CCJ

Regal Partners Ltd lessened its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 26.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,200 shares of the basic materials company’s stock after selling 98,790 shares during the period. Cameco comprises 1.6% of Regal Partners Ltd’s portfolio, making the stock its 14th largest holding. Regal Partners Ltd’s holdings in Cameco were worth $30,107,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CCJ. Bison Wealth LLC grew its stake in Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after acquiring an additional 2,975 shares during the period. AQR Capital Management LLC lifted its stake in shares of Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 1,361 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after purchasing an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund acquired a new stake in shares of Cameco during the second quarter worth $14,252,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

CCJ stock opened at $86.98 on Wednesday. The company has a market cap of $37.88 billion, a PE ratio of 80.54, a price-to-earnings-growth ratio of 1.41 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. The stock has a 50-day moving average price of $100.56 and a two-hundred day moving average price of $110.37. Cameco Corporation has a 12-month low of $68.96 and a 12-month high of $135.24.

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, topping analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.16 EPS. As a group, research analysts predict that Cameco Corporation will post 1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CCJ shares. Bank of America dropped their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Truist Financial initiated coverage on Cameco in a report on Monday, July 13th. They issued a “buy” rating and a $129.00 price target for the company. Royal Bank Of Canada upped their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. William Blair began coverage on shares of Cameco in a research report on Monday, April 20th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and an average price target of $146.18.

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.