Wellington Shields Capital Management LLC Cuts Stake in Cameco Co. (NYSE:CCJ)

Wellington Shields Capital Management LLC cut its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 4.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,100 shares of the basic materials company’s stock after selling 600 shares during the period. Wellington Shields Capital Management LLC’s holdings in Cameco were worth $644,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Bornite Capital Management LP purchased a new stake in Cameco during the 4th quarter valued at $6,590,000. Tidal Investments LLC boosted its position in shares of Cameco by 15.5% during the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock valued at $868,000 after buying an additional 2,683 shares during the last quarter. Eaton Financial Holdings Company LLC bought a new stake in Cameco in the 4th quarter worth about $1,327,000. LRI Investments LLC purchased a new position in Cameco in the 1st quarter worth about $30,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Cameco during the 1st quarter valued at about $295,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of research analyst reports. Glj Research reiterated a “buy” rating and issued a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Bank of America raised their price target on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group upped their price objective on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Scotiabank dropped their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Cameco has a consensus rating of “Buy” and a consensus target price of $67.25.

Cameco Stock Performance

NYSE:CCJ traded down $0.40 during mid-day trading on Friday, hitting $37.70. 184,841 shares of the company traded hands, compared to its average volume of 4,320,200. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average price is $44.14 and its 200-day moving average price is $46.57. The firm has a market cap of $16.41 billion, a price-to-earnings ratio of 97.69 and a beta of 0.92. Cameco Co. has a one year low of $35.18 and a one year high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The company’s revenue was up 24.1% compared to the same quarter last year. Research analysts anticipate that Cameco Co. will post 1.06 earnings per share 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.