Terra Nova Asset Management LLC Trims Holdings in Cameco Co. (NYSE:CCJ)

Terra Nova Asset Management LLC cut its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 10.2% during the third quarter, Holdings Channel reports. The institutional investor owned 7,780 shares of the basic materials company’s stock after selling 881 shares during the quarter. Terra Nova Asset Management LLC’s holdings in Cameco were worth $372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC grew its position in shares of Cameco by 15.5% in the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after buying an additional 2,683 shares during the period. LRI Investments LLC purchased a new stake in shares of Cameco in the 1st quarter worth about $30,000. Susquehanna Fundamental Investments LLC bought a new position in Cameco in the 1st quarter worth about $295,000. Councilmark Asset Management LLC bought a new position in Cameco in the 1st quarter worth about $1,760,000. Finally, Sei Investments Co. boosted its stake in Cameco by 285.3% in the 2nd quarter. Sei Investments Co. now owns 71,774 shares of the basic materials company’s stock worth $3,530,000 after purchasing an additional 53,144 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Performance

Cameco stock traded up $2.69 during midday trading on Wednesday, hitting $54.40. The stock had a trading volume of 2,958,710 shares, compared to its average volume of 4,343,644. The firm’s fifty day moving average is $43.34 and its two-hundred day moving average is $47.46. The company has a market capitalization of $23.67 billion, a PE ratio of 139.77 and a beta of 0.90. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $56.24. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). The firm had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The company’s revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) earnings per share. On average, research analysts forecast that Cameco Co. will post 0.83 EPS for the current year.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of analyst reports. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Bank of America upped their price target on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. 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. Finally, Scotiabank lowered their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Cameco currently has an average rating of “Buy” and a consensus price target of $66.56.

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.