Platinum Investment Management Ltd. Sells 1,880,738 Shares of Cameco Co. (NYSE:CCJ)

Platinum Investment Management Ltd. lessened its position in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO by 64.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,042,725 shares of the basic materials company's stock after selling 1,880,738 shares during the quarter. Cameco comprises 3.1% of Platinum Investment Management Ltd.'s holdings, making the stock its 10th largest position. Platinum Investment Management Ltd. owned 0.24% of Cameco worth $53,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Cameco by 17.7% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 143,423 shares of the basic materials company's stock worth $7,371,000 after acquiring an additional 21,542 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Cameco by 42.3% during the 4th quarter. Intech Investment Management LLC now owns 451,781 shares of the basic materials company's stock worth $23,217,000 after purchasing an additional 134,250 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Cameco in the fourth quarter valued at approximately $167,000. Tocqueville Asset Management L.P. increased its holdings in shares of Cameco by 0.7% in the fourth quarter. Tocqueville Asset Management L.P. now owns 979,246 shares of the basic materials company's stock valued at $50,323,000 after purchasing an additional 7,215 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its stake in Cameco by 19.1% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 616,951 shares of the basic materials company's stock worth $31,705,000 after buying an additional 99,123 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CCJ shares. Glj Research lifted their price target on Cameco from $62.76 to $75.68 and gave the stock a "buy" rating in a report on Wednesday, March 12th. Stifel Canada raised shares of Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. Royal Bank of Canada reiterated an "outperform" rating and issued a $90.00 target price on shares of Cameco in a report on Tuesday, March 4th. Stifel Nicolaus started coverage on shares of Cameco in a report on Wednesday, March 12th. They set a "buy" rating for the company. Finally, StockNews.com upgraded Cameco from a "sell" rating to a "hold" rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $73.64.

Cameco Stock Down 0.5 %

NYSE:CCJ traded down $0.24 during trading hours on Friday, hitting $44.62. The company's stock had a trading volume of 2,990,101 shares, compared to its average volume of 4,096,565. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $62.55. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $19.42 billion, a P/E ratio of 159.34 and a beta of 1.04. The stock has a fifty day moving average of $47.03 and a 200-day moving average of $50.10.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The business had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. On average, equities analysts forecast that Cameco Co. will post 1.27 earnings per share for the current year.

Cameco 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.