Kestra Advisory Services LLC Sells 27,025 Shares of Cameco Corporation $CCJ

Key Points

• Kestra Advisory Services LLC has reduced its stock position in Cameco Corporation by 20.6%, selling 27,025 shares and ending with 104,197 shares valued at $4.29 million.
• Cameco reported earnings of $0.51 per share for the last quarter, significantly beating estimates of $0.29, and its year-over-year revenue increased by 46.7%.
• Wall Street analysts have a positive outlook on Cameco, with most rating it as a "Buy" and an average price target of $83.32.

Kestra Advisory Services LLC reduced its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 20.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,197 shares of the basic materials company's stock after selling 27,025 shares during the quarter. Kestra Advisory Services LLC's holdings in Cameco were worth $4,289,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Driehaus Capital Management LLC raised its holdings in shares of Cameco by 120.2% in the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock valued at $115,398,000 after buying an additional 1,225,966 shares during the last quarter. Nuveen LLC acquired a new position in Cameco during the 1st quarter worth about $29,290,000. AGF Management Ltd. lifted its position in Cameco by 19.0% during the 1st quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock worth $166,206,000 after buying an additional 644,413 shares in the last quarter. Covea Finance lifted its position in Cameco by 52.8% during the 1st quarter. Covea Finance now owns 1,665,979 shares of the basic materials company's stock worth $68,572,000 after buying an additional 575,393 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Cameco by 20.6% during the 1st quarter. Ameriprise Financial Inc. now owns 3,048,732 shares of the basic materials company's stock worth $125,533,000 after buying an additional 521,492 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Down 1.4%

CCJ traded down $1.09 during midday trading on Friday, reaching $77.54. 6,982,094 shares of the company were exchanged, compared to its average volume of 3,843,250. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. Cameco Corporation has a one year low of $35.00 and a one year high of $83.02. The stock has a market capitalization of $33.76 billion, a P/E ratio of 89.13 and a beta of 1.06. The stock's 50-day simple moving average is $75.22 and its 200 day simple moving average is $57.81.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its 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 return on equity of 8.21% and a net margin of 14.97%.The firm had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. During the same quarter last year, the business earned $0.14 earnings per share. The company's revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CCJ. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Wall Street Zen cut Cameco from a "buy" rating to a "hold" rating in a report on Saturday. National Bankshares reiterated an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. Glj Research reiterated a "buy" rating and issued a $75.27 price target on shares of Cameco in a report on Thursday, June 12th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $83.32.

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.