Cameco Corporation $CCJ Shares Sold by Old West Investment Management LLC

Old West Investment Management LLC decreased its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 6.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 208,428 shares of the basic materials company’s stock after selling 13,553 shares during the period. Cameco makes up approximately 4.0% of Old West Investment Management LLC’s investment portfolio, making the stock its 5th largest holding. Old West Investment Management LLC’s holdings in Cameco were worth $17,479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Consulate Inc. acquired a new stake in Cameco in the 3rd quarter worth approximately $25,000. Armstrong Advisory Group Inc. lifted its stake in shares of Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after buying an additional 182 shares during the period. VSM Wealth Advisory LLC purchased a new stake in shares of Cameco during the second quarter valued at $35,000. Creative Financial Designs Inc. ADV increased its position in shares of Cameco by 936.2% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 440 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in Cameco in the 3rd quarter worth $37,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Performance

Shares of NYSE CCJ opened at $113.66 on Friday. The company has a market capitalization of $49.49 billion, a PE ratio of 132.16 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The company’s fifty day moving average price is $103.70 and its 200 day moving average price is $90.52. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a return on equity of 8.58% and a net margin of 15.24%.The firm had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. During the same quarter last year, the company posted ($0.01) EPS. The company’s revenue was down 14.7% on a year-over-year basis. On average, research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on CCJ shares. Sanford C. Bernstein reiterated an “outperform” rating and set a $147.00 price target on shares of Cameco in a research note on Thursday. UBS Group started coverage on Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price for the company. Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Scotiabank reissued an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $131.00 price objective on shares of Cameco in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $131.39.

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.