Letko Brosseau & Associates Inc Decreased Cameco Corp (NYSE:CCJ) Stake By $22.12 Million

August 12, 2018 - By Eula Gilbert

Cameco Corporation (NYSE:CCJ) Logo

Letko Brosseau & Associates Inc decreased its stake in Cameco Corp (NYSE:CCJ) by 55.25% based on its latest 2018Q2 regulatory filing with the SEC. Letko Brosseau & Associates Inc sold 2.01M shares as the company’s stock rose 14.19% while stock markets declined. The institutional investor held 1.63M shares of the precious metals company at the end of 2018Q2, valued at $18.31 million, down from 3.64 million at the end of the previous reported quarter. Letko Brosseau & Associates Inc who had been investing in Cameco Corp for a number of months, seems to be less bullish one the $4.26 billion market cap company. The stock decreased 2.45% or $0.27 during the last trading session, reaching $10.77. About 1.90M shares traded. Cameco Corporation (NYSE:CCJ) has risen 12.74% since August 13, 2017 and is uptrending. It has outperformed by 0.17% the S&P500.

Letko Brosseau & Associates Inc is a Quebec, Canada-based institutional investor with more than $24.00 billion AUM in December, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Letko Brosseau & Associates latest Adv, the fund reported to have 3 full and part-time employees. Among which 2 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

Cameco Corporation (NYSE:CCJ) Ratings Coverage

Among 2 analysts covering Cameco (NYSE:CCJ), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Cameco had 3 analyst reports since May 22, 2018 according to SRatingsIntel. The firm has “Sector Perform” rating given on Tuesday, May 22 by RBC Capital Markets. TD Securities downgraded Cameco Corporation (NYSE:CCJ) on Tuesday, June 26 to “Hold” rating. The firm has “Buy” rating by TD Securities given on Thursday, July 26.

Cameco Corporation produces and sells uranium worldwide. The company has market cap of $4.26 billion. It operates through three divisions: Uranium, Fuel Services, and NUKEM. It currently has negative earnings. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrates.

More notable recent Cameco Corporation (NYSE:CCJ) news were published by: Globenewswire.com which released: “Cameco Provides Updated Times for Q2 Results and Conference Call” on July 20, 2018, also Seekingalpha.com with their article: “Cameco : Ceasing Production Protects Uranium Market” published on July 28, 2018, Fool.com published: “Can Cameco Corporation Stock Go Higher After Gaining 27.4% So Far in 2018?” on July 15, 2018. More interesting news about Cameco Corporation (NYSE:CCJ) were released by: Seekingalpha.com and their article: “Cameco Corporation (CCJ) CEO Tim Gitzel on Q2 2018 Results – Earnings Call Transcript” published on July 26, 2018 as well as Seekingalpha.com‘s news article titled: “Cameco sees ‘no immediate effect’ from US uranium probe” with publication date: July 19, 2018.

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