Platinum Investment Management Ltd. Sells 1,880,738 Shares of Cameco Co. (NYSE:CCJ)

Platinum Investment Management Ltd. reduced its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 64.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,042,725 shares of the basic materials company’s stock after selling 1,880,738 shares during the quarter. Cameco makes up approximately 3.1% of Platinum Investment Management Ltd.’s holdings, making the stock its 10th largest holding. Platinum Investment Management Ltd. owned about 0.24% of Cameco worth $53,587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CCJ. Sierra Ocean LLC acquired a new position in shares of Cameco in the 4th quarter worth approximately $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Cameco during the 4th quarter worth $28,000. Pingora Partners LLC acquired a new position in Cameco during the 3rd quarter worth $33,000. Whipplewood Advisors LLC acquired a new position in Cameco during the 4th quarter worth $33,000. Finally, Compass Planning Associates Inc acquired a new position in Cameco during the 4th quarter worth $36,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CCJ shares. Stifel Canada raised Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Stifel Nicolaus started coverage on Cameco in a report on Wednesday, March 12th. They set a “buy” rating on the stock. StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a research report on Wednesday. Glj Research raised their price target on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $90.00 price target on shares of Cameco in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $73.64.

Cameco Stock Performance

Shares of Cameco stock opened at $43.09 on Wednesday. The company has a market capitalization of $18.76 billion, a PE ratio of 153.90 and a beta of 1.04. Cameco Co. has a 12 month low of $35.43 and a 12 month high of $62.55. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock’s fifty day simple moving average is $47.40 and its 200 day simple moving average is $50.07.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The firm had revenue of $845.54 million for the quarter, compared to the consensus estimate of $1.09 billion. On average, research analysts predict that Cameco Co. will post 1.27 EPS for the current year.

Cameco 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.