Bank of Nova Scotia Decreases Holdings in Cameco Corporation $CCJ

Bank of Nova Scotia lowered its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,191,269 shares of the basic materials company’s stock after selling 38,168 shares during the period. Bank of Nova Scotia owned approximately 0.27% of Cameco worth $129,527,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Advisors LLC boosted its holdings in shares of Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 85 shares during the period. Legacy Bridge LLC increased its position in shares of Cameco by 0.9% during the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after purchasing an additional 100 shares during the last quarter. HB Wealth Management LLC raised its holdings in Cameco by 3.1% during the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after buying an additional 107 shares during the period. Groupama Asset Managment raised its holdings in Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after buying an additional 108 shares during the period. Finally, S.A. Mason LLC lifted its position in Cameco by 4.8% in the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CCJ. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. William Blair initiated coverage on shares of Cameco in a report on Monday, April 20th. They issued an “outperform” rating for the company. Citigroup restated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Royal Bank Of Canada lifted their price target on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Finally, Bank of America cut their price target on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.18.

Cameco Price Performance

CCJ opened at $89.47 on Friday. The business has a fifty day moving average of $101.60 and a 200 day moving average of $110.66. Cameco Corporation has a 52-week low of $68.96 and a 52-week high of $135.24. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The stock has a market cap of $38.97 billion, a P/E ratio of 82.85, a PEG ratio of 1.43 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same quarter in the prior year, the company posted $0.16 EPS. Cameco’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.34 EPS for the current year.

About Cameco

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.