Cameco Corporation $CCJ Shares Sold by Mufg Securities Canada LTD.

Key Points

• MUFG Securities Canada reduced its Cameco stake by 4.6% in the second quarter, selling 29,942 shares and retaining 616,087 shares valued at approximately $62.7 million. Institutional investors collectively own 70.21% of Cameco.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $145.68, although some firms recently downgraded the stock to “hold” or “sell.”
• Cameco reported quarterly EPS of $0.13, below the $0.26 consensus estimate, while revenue of $573.1 million fell 6.8% year over year and narrowly missed expectations.

Mufg Securities Canada LTD. lowered its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 616,087 shares of the basic materials company's stock after selling 29,942 shares during the period. Cameco comprises about 1.7% of Mufg Securities Canada LTD.'s investment portfolio, making the stock its 19th biggest holding. Mufg Securities Canada LTD. owned about 0.14% of Cameco worth $62,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC bought a new position in shares of Cameco during the first quarter worth about $30,000. Brown Lisle Cummings Inc. boosted its stake in Cameco by 3,200.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 288 shares during the period. Mcguire Capital Advisors Inc. bought a new position in Cameco in the 4th quarter worth about $28,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 307 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock worth $30,000 after buying an additional 325 shares during the period. 70.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings cut Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Truist Financial raised their price target on Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Scotiabank restated an "outperform" rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Finally, Wall Street Zen downgraded shares of Cameco from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $145.68.

Cameco Price Performance

Shares of Cameco stock opened at $98.75 on Tuesday. Cameco Corporation has a 52 week low of $73.20 and a 52 week high of $135.24. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The stock has a market cap of $43.01 billion, a PE ratio of 167.37, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. The company's 50-day moving average price is $95.84 and its two-hundred day moving average price is $106.84.

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

Cameco Profile

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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