Cameco Corporation $CCJ Stock Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its Cameco stake by 8.8% in the second quarter, selling 20,044 shares and retaining 206,623 shares valued at approximately $21.0 million. Institutional investors own 70.21% of the company.
• Cameco shares opened at $86.89, near the lower end of their 12-month range of $77.70 to $135.24. The company’s latest quarterly results missed analysts’ EPS expectations, with earnings declining year over year and revenue down 6.8%.
• Analyst sentiment remains generally positive: 12 analysts rate the stock a Buy and five rate it a Hold, producing a Moderate Buy consensus and an average price target of $148.68, despite some recent target cuts and a downgrade to Sell.

Envestnet Asset Management Inc. cut its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 8.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,623 shares of the basic materials company's stock after selling 20,044 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Cameco were worth $21,047,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC bought a new stake in Cameco during the first quarter worth about $30,000. Brown Lisle Cummings Inc. grew its holdings in Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock worth $32,000 after purchasing an additional 288 shares during the period. Copos Capital S.a r.l. bought a new position in shares of Cameco during the fourth quarter valued at approximately $35,000. Western Wealth Management LLC purchased a new position in shares of Cameco during the first quarter valued at approximately $39,000. Finally, Dunhill Financial LLC purchased a new position in shares of Cameco during the second quarter valued at approximately $39,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Down 0.2%

Cameco stock opened at $86.89 on Wednesday. Cameco Corporation has a 12 month low of $77.70 and a 12 month high of $135.24. The stock has a fifty day simple moving average of $95.11 and a two-hundred day simple moving average of $103.42. 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 firm has a market cap of $37.84 billion, a price-to-earnings ratio of 147.27, a PEG ratio of 1.64 and a beta of 1.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. During the same period in the previous year, the company earned $0.71 earnings per share. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. Equities analysts predict that Cameco Corporation will post 1.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on CCJ. Jefferies Financial Group assumed coverage on Cameco in a research note on Thursday, September 3rd. They issued a "buy" rating and a $138.00 price target on the stock. Barclays dropped their target price on Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 4th. Wall Street Zen lowered Cameco from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. Citigroup reiterated a "positive" rating on shares of Cameco in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada increased their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, June 29th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $148.68.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world's major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company's operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.

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