Lazard Asset Management LLC Sells 5,539 Shares of Cameco Corporation $CCJ

Lazard Asset Management LLC trimmed its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 65.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,966 shares of the basic materials company’s stock after selling 5,539 shares during the period. Lazard Asset Management LLC’s holdings in Cameco were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bison Wealth LLC grew its stake in shares of 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 buying an additional 2,975 shares in the last quarter. AQR Capital Management LLC raised its position 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 valued at $393,000 after buying an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Cameco by 48.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after acquiring an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cameco by 11.9% in the 1st 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 valued at $24,895,000 after acquiring an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund purchased a new position in Cameco in the second quarter worth about $14,252,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Performance

Shares of NYSE:CCJ opened at $97.39 on Friday. The company has a market capitalization of $42.42 billion, a price-to-earnings ratio of 165.06, a PEG ratio of 1.45 and a beta of 1.05. Cameco Corporation has a 12 month low of $68.96 and a 12 month high of $135.24. The firm’s 50-day moving average is $97.94 and its 200 day moving average is $109.28. The company has a current ratio of 3.06, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The firm had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same period in the previous year, the business earned $0.71 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. Research analysts predict that Cameco Corporation will post 1.36 EPS for the current year.

Analysts Set New Price Targets

CCJ has been the topic of several analyst reports. Truist Financial assumed coverage on Cameco in a research note on Monday, July 13th. They set a “buy” rating and a $129.00 price objective on the stock. Weiss Ratings lowered 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 issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Wall Street Zen downgraded Cameco from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, William Blair initiated coverage on Cameco in a report on Monday, April 20th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued 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 an average target price of $145.60.

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.