Cameco Corporation $CCJ Stock Holdings Reduced by Andra AP fonden

Key Points

• Andra AP fonden cut its Cameco position by 45% in the second quarter, selling 22,200 shares and retaining 27,087 shares valued at approximately $2.76 million.
• Institutional ownership remains substantial at 70.21%, with several funds increasing their stakes, including WINTON GROUP, Sequoia Financial Advisors, and Gemmer Asset Management.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $148.68; however, Cameco’s latest quarterly EPS missed estimates and revenue declined 6.8% year over year.

Andra AP fonden reduced its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 45.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,087 shares of the basic materials company's stock after selling 22,200 shares during the period. Andra AP fonden's holdings in Cameco were worth $2,759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCJ. Bullseye Investment Management LLC acquired a new stake in Cameco in the 2nd quarter worth approximately $136,000. Sequoia Financial Advisors LLC raised its position in shares of Cameco by 14.3% in the second quarter. Sequoia Financial Advisors LLC now owns 106,825 shares of the basic materials company's stock valued at $10,881,000 after purchasing an additional 13,399 shares during the period. Gemmer Asset Management LLC raised its position in shares of Cameco by 11.5% in the second quarter. Gemmer Asset Management LLC now owns 12,906 shares of the basic materials company's stock valued at $1,315,000 after purchasing an additional 1,327 shares during the period. SailingStone Capital Partners LLC lifted its stake in shares of Cameco by 0.5% in the second quarter. SailingStone Capital Partners LLC now owns 73,227 shares of the basic materials company's stock worth $7,459,000 after buying an additional 392 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its stake in shares of Cameco by 30.9% in the second quarter. WINTON GROUP Ltd now owns 140,300 shares of the basic materials company's stock worth $14,291,000 after buying an additional 33,153 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of research analyst reports. Truist Financial raised their target price on shares of Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Jefferies Financial Group assumed coverage on shares of Cameco in a research report on Thursday, September 3rd. They set a "buy" rating and a $138.00 target price for the company. Weiss Ratings cut shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Wall Street Zen downgraded Cameco from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Cameco currently has an average rating of "Moderate Buy" and a consensus price target of $148.68.

Cameco Price Performance

NYSE:CCJ opened at $90.82 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. Cameco Corporation has a one year low of $77.70 and a one year high of $135.24. The company has a fifty day moving average price of $95.04 and a 200 day moving average price of $104.20. The stock has a market cap of $39.55 billion, a P/E ratio of 153.93, a PEG ratio of 1.62 and a beta of 1.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results 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 company had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. The business's revenue for the quarter was down 6.8% on a year-over-year basis. Analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

About Cameco

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.