Cameco Corporation $CCJ Shares Acquired by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors increased its Cameco position by 14.3% in the second quarter, bringing its holdings to 106,825 shares valued at approximately $10.9 million. Institutional investors collectively own 70.21% of Cameco’s stock.
• Cameco reported quarterly revenue of $573.1 million and EPS of $0.13, missing analyst estimates of $579.6 million and $0.26, respectively; revenue declined 6.8% year over year.
• Analyst sentiment remains positive, with 13 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $148.68, versus a recent share price of $97.41.

Sequoia Financial Advisors LLC increased its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 14.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,825 shares of the basic materials company's stock after purchasing an additional 13,399 shares during the period. Sequoia Financial Advisors LLC's holdings in Cameco were worth $10,881,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CCJ. Capital World Investors increased its holdings in shares of Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company's stock valued at $1,240,047,000 after acquiring an additional 41,430 shares during the last quarter. Bank of America Corp DE purchased a new stake in Cameco during the second quarter worth approximately $735,498,000. Van ECK Associates Corp boosted its holdings in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company's stock valued at $575,771,000 after purchasing an additional 849,188 shares in the last quarter. Morgan Stanley increased its stake in Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company's stock valued at $455,468,000 after purchasing an additional 323,693 shares during the last quarter. Finally, Norges Bank purchased a new position in Cameco in the fourth quarter valued at approximately $443,265,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

Shares of NYSE:CCJ opened at $97.41 on Friday. The stock has a market capitalization of $42.43 billion, a price-to-earnings ratio of 165.11, a PEG ratio of 1.72 and a beta of 1.06. Cameco Corporation has a one year low of $77.53 and a one year high of $135.24. The company has a 50-day simple moving average of $95.29 and a 200-day simple moving average of $105.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The company had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same period in the previous year, the business posted $0.71 earnings per share. The firm's revenue was down 6.8% compared to the same quarter last year. On average, analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Barclays cut their price target on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 4th. Bank of America decreased their price objective on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada raised their price objective on Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, June 29th. Finally, Wall Street Zen upgraded Cameco from a "sell" rating to a "hold" rating in a research report on Saturday, September 5th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $148.68.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world's largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.

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