Foster Victor Wealth Advisors LLC Sells 48,059 Shares of Cameco Corporation $CCJ

Key Points

• Foster Victor Wealth Advisors LLC announced a 25.5% reduction in its holdings of Cameco Corporation, selling 48,059 shares, leaving it with a total of 140,296 shares worth approximately $10 million.
• Cameco's recent earnings report showed $0.51 EPS, surpassing analysts' expectations of $0.29, with quarterly revenue of $467.72 million, though it fell short of the $819.79 million forecast.
• Analysts maintain a 'Buy' consensus rating for Cameco, with an average price target of $89.55, reflecting positive outlook amidst increased activities from institutional investors.

Foster Victor Wealth Advisors LLC decreased its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 25.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,296 shares of the basic materials company's stock after selling 48,059 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Cameco were worth $10,038,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCJ. Sheets Smith Wealth Management purchased a new stake in Cameco during the second quarter valued at approximately $881,000. Compagnie Lombard Odier SCmA bought a new position in shares of Cameco during the 2nd quarter valued at approximately $259,000. Focused Wealth Management Inc bought a new position in shares of Cameco during the 2nd quarter valued at approximately $249,000. Financial Enhancement Group LLC purchased a new stake in Cameco during the 2nd quarter valued at $2,638,000. Finally, Kapitalo Investimentos Ltda lifted its position in Cameco by 1.4% in the second quarter. Kapitalo Investimentos Ltda now owns 86,553 shares of the basic materials company's stock worth $6,425,000 after buying an additional 1,186 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Stock Up 0.7%

CCJ stock opened at $86.91 on Wednesday. The stock has a market capitalization of $37.84 billion, a PE ratio of 99.90 and a beta of 1.04. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $88.45. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $77.75 and a 200 day moving average of $62.04.

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, topping analysts' consensus estimates of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. During the same quarter last year, the company posted $0.14 earnings per share. The business's quarterly revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on CCJ shares. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research note on Tuesday, September 2nd. Scotiabank reissued an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Glj Research reissued a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Finally, President Capital upgraded Cameco from a "neutral" rating to a "buy" rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $89.55.

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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