Rheos Capital Works Inc. Sells 400,000 Shares of Cameco Co. (NYSE:CCJ)

Rheos Capital Works Inc. reduced its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 31.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 860,000 shares of the basic materials company’s stock after selling 400,000 shares during the period. Cameco comprises about 2.1% of Rheos Capital Works Inc.’s investment portfolio, making the stock its 7th biggest position. Rheos Capital Works Inc. owned 0.20% of Cameco worth $41,074,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Cameco by 1.3% in the first quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock valued at $689,306,000 after buying an additional 200,871 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Cameco by 2.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock valued at $593,967,000 after buying an additional 288,400 shares in the last quarter. Capital World Investors boosted its position in Cameco by 1.6% in the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after buying an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Cameco by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after buying an additional 202,157 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in Cameco by 6.8% in the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after buying an additional 265,196 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Up 7.9 %

CCJ opened at $55.77 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The company has a market cap of $24.27 billion, a price-to-earnings ratio of 143.00 and a beta of 0.90. The firm has a 50 day simple moving average of $43.70 and a 200 day simple moving average of $47.52. Cameco Co. has a fifty-two week low of $35.43 and a fifty-two week high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The business had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period last year, the firm earned ($0.01) earnings per share. On average, sell-side analysts anticipate that Cameco Co. will post 0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CCJ shares. Scotiabank reduced their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Glj Research reiterated a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Finally, Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $66.56.

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.