Cameco Co. (NYSE:CCJ) Shares Sold by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC decreased its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 1.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 236,000 shares of the basic materials company’s stock after selling 3,600 shares during the quarter. Cameco accounts for approximately 7.3% of Merrion Investment Management Co LLC’s holdings, making the stock its biggest holding. Merrion Investment Management Co LLC owned approximately 0.05% of Cameco worth $10,224,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Cameco during the 4th quarter worth about $99,511,000. Rheos Capital Works Inc. bought a new stake in shares of Cameco during the fourth quarter valued at approximately $61,245,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cameco by 6.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,422,754 shares of the basic materials company’s stock valued at $581,558,000 after purchasing an additional 869,404 shares in the last quarter. National Bank of Canada FI raised its position in Cameco by 25.6% in the 4th quarter. National Bank of Canada FI now owns 4,180,221 shares of the basic materials company’s stock worth $175,714,000 after purchasing an additional 850,704 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in Cameco during the 4th quarter worth $19,955,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Down 4.9 %

Shares of CCJ stock traded down $2.56 on Friday, reaching $49.20. The company had a trading volume of 3,771,863 shares, compared to its average volume of 2,773,855. The company has a 50-day moving average of $51.41 and a 200-day moving average of $47.03. Cameco Co. has a 12 month low of $29.17 and a 12 month high of $56.24. The stock has a market cap of $21.41 billion, a PE ratio of 126.15 and a beta of 0.93. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.23). The firm had revenue of $470.29 million during the quarter. Cameco had a return on equity of 4.60% and a net margin of 9.28%. On average, equities analysts forecast that Cameco Co. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CCJ. The Goldman Sachs Group boosted their target price on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. StockNews.com lowered shares of Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. Finally, Bank of America lifted 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.70.

About Cameco

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.