Cameco Corporation $CCJ Shares Sold by Confluence Investment Management LLC

Key Points

• Confluence Investment Management LLC reduced its stake in Cameco Corporation by 68.4% in Q2, selling 15,005 shares and now owning 6,945 shares valued at $516,000.
• Cameco's stock has been positively rated by multiple brokerages, with Goldman Sachs raising their target price to $78.00 and Royal Bank of Canada to $110.00, reflecting a strong overall outlook.
• In its latest earnings report, Cameco posted an EPS of $0.51, exceeding estimates, with revenue increasing 46.7% year-over-year, although falling short of market expectations.

Confluence Investment Management LLC lowered its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 68.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,945 shares of the basic materials company's stock after selling 15,005 shares during the quarter. Confluence Investment Management LLC's holdings in Cameco were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Manchester Capital Management LLC increased its stake in shares of Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 300 shares during the period. Dagco Inc. acquired a new stake in shares of Cameco in the first quarter valued at approximately $28,000. SVB Wealth LLC acquired a new stake in shares of Cameco in the first quarter valued at approximately $29,000. Copia Wealth Management acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $39,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CCJ. Glj Research restated a "buy" rating and issued a $75.27 price target on shares of Cameco in a research note on Thursday, June 12th. The Goldman Sachs Group boosted their target price on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the stock an "outperform" rating in a report on Tuesday, June 10th. National Bankshares reissued an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. Finally, Royal Bank Of Canada boosted their target price on Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $89.55.

Cameco Price Performance

Shares of NYSE:CCJ opened at $78.07 on Monday. The stock has a market cap of $33.99 billion, a price-to-earnings ratio of 89.74 and a beta of 1.04. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $83.02. The stock's 50 day moving average price is $76.21 and its 200 day moving average price is $60.12. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The firm's revenue was up 46.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

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.

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