Global X Management Co LLC Sells 885,941 Shares of Cameco Corp (CCJ)
Global X Management Co LLC decreased its holdings in shares of Cameco Corp (NYSE:CCJ) (TSE:CCO) by 9.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,148,199 shares of the basic materials company’s stock after selling 885,941 shares during the quarter. Cameco comprises about 1.6% of Global X Management Co LLC’s investment portfolio, making the stock its 7th biggest position. Global X Management Co LLC owned about 2.06% of Cameco worth $91,613,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Usca Ria LLC acquired a new stake in shares of Cameco during the first quarter worth $103,000. Sigma Planning Corp acquired a new stake in shares of Cameco during the second quarter worth $121,000. Natixis acquired a new stake in shares of Cameco during the second quarter worth $130,000. Atria Investments LLC acquired a new stake in shares of Cameco during the second quarter worth $136,000. Finally, Pitcairn Co. acquired a new stake in shares of Cameco during the first quarter worth $145,000. Institutional investors and hedge funds own 51.14% of the company’s stock.
A number of research analysts recently weighed in on CCJ shares. TD Securities upgraded Cameco from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. TheStreet cut Cameco from a “c” rating to a “d+” rating in a report on Monday, July 30th. Zacks Investment Research upgraded Cameco from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. BMO Capital Markets cut Cameco from an “outperform” rating to a “market perform” rating and set a $15.00 target price on the stock. in a report on Thursday, July 26th. Finally, Royal Bank of Canada cut Cameco from an “outperform” rating to a “sector perform” rating in a report on Tuesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Cameco presently has a consensus rating of “Hold” and an average price target of $18.00.
Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, July 25th. The basic materials company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.06). Cameco had a negative net margin of 10.03% and a positive return on equity of 1.61%. The firm had revenue of $333.00 million during the quarter, compared to analyst estimates of $392.80 million. During the same quarter in the previous year, the business posted ($0.11) EPS. Cameco’s revenue was down 29.1% compared to the same quarter last year. equities research analysts predict that Cameco Corp will post 0.02 EPS for the current year.
Cameco Corporation produces and sells uranium worldwide. The company operates through three segments: Uranium, Fuel Services, and NUKEM. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrates. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; the Inkai property situated in Kazakhstan; the Smith Ranch-Highland property located in Wyoming, the United States; and the Crow Butte property situated in Nebraska, the United States.
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