First City Capital Management Inc. Sells 500 Shares of Cameco Co. (NYSE:CCJ)

First City Capital Management Inc. cut its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,450 shares of the basic materials company’s stock after selling 500 shares during the quarter. First City Capital Management Inc.’s holdings in Cameco were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bornite Capital Management LP acquired a new position in shares of Cameco during the fourth quarter worth $6,590,000. Tidal Investments LLC boosted its stake 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 purchasing an additional 2,683 shares in the last quarter. Eaton Financial Holdings Company LLC bought a new stake in shares of Cameco during the fourth quarter worth about $1,327,000. LRI Investments LLC acquired a new position in shares of Cameco in the first quarter valued at approximately $30,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Cameco during the 1st quarter worth approximately $295,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Scotiabank dropped their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group lifted their price objective on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Finally, Bank of America boosted their price target on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $67.25.

Cameco Price Performance

CCJ stock opened at $44.40 on Friday. Cameco Co. has a 1 year low of $35.18 and a 1 year high of $56.24. The stock has a market capitalization of $19.32 billion, a PE ratio of 113.85 and a beta of 0.90. The company’s 50-day moving average is $41.76 and its 200-day moving average is $46.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly 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). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. During the same period in the previous year, the business posted ($0.01) EPS. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. Equities research analysts expect that Cameco Co. will post 0.96 EPS 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.