Azarias Capital Management L.P. Lowers Stock Holdings in Cameco Corporation $CCJ

Azarias Capital Management L.P. reduced its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 42.6% during the first quarter, Holdings Channel.com reports. The fund owned 50,371 shares of the basic materials company’s stock after selling 37,357 shares during the quarter. Cameco makes up 2.5% of Azarias Capital Management L.P.’s investment portfolio, making the stock its 15th biggest position. Azarias Capital Management L.P.’s holdings in Cameco were worth $5,471,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CCJ. Nisa Investment Advisors LLC bought a new stake in shares of Cameco during the fourth quarter valued at approximately $25,000. Founders Capital Management bought a new position in Cameco in the fourth quarter worth approximately $27,000. Strategic Advocates LLC bought a new position in Cameco in the third quarter worth approximately $28,000. Mcguire Capital Advisors Inc. purchased a new position in Cameco during the 4th quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 307 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Up 0.1%

Shares of Cameco stock opened at $106.57 on Monday. The firm’s 50 day moving average price is $112.56 and its 200-day moving average price is $109.92. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 52-week low of $67.60 and a 52-week high of $135.24. The company has a market cap of $46.41 billion, a P/E ratio of 98.68, a PEG ratio of 1.94 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same quarter in the previous year, the business posted $0.16 EPS. Cameco’s revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts predict that Cameco Corporation will post 1.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on CCJ shares. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Canadian Imperial Bank of Commerce lifted their price objective on Cameco to $202.00 in a report on Monday, March 9th. William Blair initiated coverage on shares of Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. Scotiabank reiterated an “outperform” rating and set a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Finally, TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.42.

Cameco Company Profile

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.