AQR Capital Management LLC Sells 753 Shares of Cameco Co. (NYSE:CCJ)

AQR Capital Management LLC reduced its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 7.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,855 shares of the basic materials company’s stock after selling 753 shares during the quarter. AQR Capital Management LLC’s holdings in Cameco were worth $436,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Fred Alger Management LLC lifted its position in Cameco by 106.2% in the 2nd quarter. Fred Alger Management LLC now owns 841,182 shares of the basic materials company’s stock valued at $41,386,000 after acquiring an additional 433,234 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Cameco by 185.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 60,765 shares of the basic materials company’s stock worth $2,990,000 after buying an additional 39,471 shares in the last quarter. Morse Asset Management Inc bought a new stake in Cameco during the 2nd quarter worth about $422,000. Interval Partners LP bought a new stake in Cameco during the 2nd quarter worth about $2,441,000. Finally, Public Sector Pension Investment Board lifted its position in Cameco by 6.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 58,870 shares of the basic materials company’s stock worth $2,896,000 after buying an additional 3,332 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on CCJ shares. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. 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. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Glj Research reaffirmed a “buy” rating and issued a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Finally, Scotiabank dropped their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cameco has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Stock Down 0.3 %

Shares of NYSE CCJ opened at $51.72 on Wednesday. The firm has a market cap of $22.51 billion, a PE ratio of 132.62 and a beta of 0.90. Cameco Co. has a 12-month low of $35.43 and a 12-month high of $56.24. The company’s fifty day simple moving average is $43.34 and its 200 day simple moving average is $47.46. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

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 for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The firm had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period last year, the company posted ($0.01) earnings per share. As a group, sell-side analysts forecast that Cameco Co. will post 0.83 earnings per share 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.