Parallel Advisors LLC Trims Position in Cameco Co. (NYSE:CCJ)

Parallel Advisors LLC trimmed its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 3.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 9,197 shares of the basic materials company’s stock after selling 314 shares during the quarter. Parallel Advisors LLC’s holdings in Cameco were worth $452,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. LRI Investments LLC purchased a new position in Cameco during the first quarter worth about $26,000. Principal Securities Inc. purchased a new position in Cameco during the fourth quarter worth about $29,000. Lindbrook Capital LLC raised its holdings in Cameco by 26.0% during the first quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 221 shares in the last quarter. Larson Financial Group LLC raised its holdings in Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 600 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new position in Cameco during the first quarter worth about $87,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

CCJ opened at $40.30 on Wednesday. The company has a fifty day simple moving average of $42.45 and a 200 day simple moving average of $46.53. The firm has a market cap of $17.54 billion, a price-to-earnings ratio of 103.33 and a beta of 0.90. Cameco Co. has a twelve month low of $35.18 and a twelve month high of $56.24. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.14). The company had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. Cameco’s revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) earnings per share. Equities research analysts expect that Cameco Co. will post 0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CCJ has been the topic of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Glj Research restated a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Scotiabank lowered their target price 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. Finally, National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cameco has an average rating of “Buy” and an average price target of $67.25.

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.