Bank of Nova Scotia Sells 38,168 Shares of Cameco Corporation $CCJ

Bank of Nova Scotia cut its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities & 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’s holdings in Cameco were worth $129,527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCJ. Nisa Investment Advisors LLC purchased a new position in shares of Cameco in the 4th quarter valued at $25,000. Founders Capital Management bought a new stake in Cameco during the fourth quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its position in Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 307 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in Cameco in the fourth quarter valued at about $28,000. Finally, Sunbelt Securities Inc. grew its stake in Cameco by 928.6% in the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 325 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CCJ. William Blair began coverage on shares of Cameco in a research report on Monday, April 20th. They set an “outperform” rating for the company. Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Bank of America reduced their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada increased their target price on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Finally, Citigroup reaffirmed a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and an average target price of $146.18.

Cameco Price Performance

NYSE CCJ opened at $89.47 on Friday. The company has a market cap of $38.97 billion, a price-to-earnings ratio of 82.85, a PEG ratio of 1.43 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The stock’s fifty day moving average price is $101.60 and its 200 day moving average price is $110.66. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. As a group, equities research analysts forecast that Cameco Corporation will post 1.34 earnings per share 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.