Connor Clark & Lunn Investment Management Ltd. Sells 276,827 Shares of Cameco Co. (NYSE:CCJ)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 9.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,784,147 shares of the basic materials company’s stock after selling 276,827 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.64% of Cameco worth $142,970,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Avantax Advisory Services Inc. boosted its holdings in shares of Cameco by 31.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 29,568 shares of the basic materials company’s stock valued at $1,520,000 after purchasing an additional 7,100 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Cameco by 17.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,902 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 428 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Cameco by 3.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 78,132 shares of the basic materials company’s stock worth $4,015,000 after purchasing an additional 2,612 shares during the last quarter. Saturna Capital Corp lifted its stake in shares of Cameco by 44.0% during the 4th quarter. Saturna Capital Corp now owns 9,737 shares of the basic materials company’s stock worth $500,000 after acquiring an additional 2,976 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its stake in shares of Cameco by 15.4% during the fourth quarter. Moors & Cabot Inc. now owns 9,983 shares of the basic materials company’s stock valued at $513,000 after purchasing an additional 1,334 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCJ has been the subject of a number of research reports. StockNews.com lowered Cameco from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Cameco in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $71.25.

Cameco Stock Up 2.6 %

Cameco stock opened at $41.70 on Wednesday. The business’s 50-day simple moving average is $48.40 and its two-hundred day simple moving average is $50.01. The company has a market cap of $18.15 billion, a PE ratio of 148.91 and a beta of 1.04. Cameco Co. has a fifty-two week low of $35.43 and a fifty-two week high of $62.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. Equities analysts anticipate 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.