King Luther Capital Management Corp Sells 8,185 Shares of Cameco Corporation (NYSE:CCJ)

Key Points

• King Luther Capital Management Corp has decreased its stake in Cameco Corporation by 0.8%, now holding approximately 990,549 shares valued at $40.77 million.
• Cameco recently reported earnings of $0.51 per share for the last quarter, surpassing expectations significantly, while the revenue saw a year-over-year increase of 46.7%.
• Research firms have optimistic forecasts for Cameco, with multiple analysts issuing "outperform" ratings and a consensus price target set at $82.65.

King Luther Capital Management Corp trimmed its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 990,549 shares of the basic materials company's stock after selling 8,185 shares during the period. King Luther Capital Management Corp owned 0.23% of Cameco worth $40,771,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Manchester Capital Management LLC grew its holdings in Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after purchasing an additional 300 shares during the period. Copia Wealth Management purchased a new position in Cameco during the fourth quarter valued at $39,000. Ameriflex Group Inc. bought a new stake in shares of Cameco in the 4th quarter worth about $40,000. CoreCap Advisors LLC boosted its stake in shares of Cameco by 8,363.6% during the 4th quarter. CoreCap Advisors LLC now owns 931 shares of the basic materials company's stock worth $48,000 after purchasing an additional 920 shares during the period. Finally, Private Trust Co. NA boosted its position in Cameco by 315.2% in the 1st quarter. Private Trust Co. NA now owns 1,229 shares of the basic materials company's stock valued at $51,000 after buying an additional 933 shares during the period. 70.21% of the stock is owned by institutional investors.

Cameco Stock Performance

CCJ traded up $0.73 during trading on Monday, hitting $77.65. The stock had a trading volume of 3,293,253 shares, compared to its average volume of 4,712,165. The company has a 50 day simple moving average of $72.44 and a 200-day simple moving average of $55.33. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $80.32. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The firm has a market cap of $33.81 billion, a PE ratio of 89.25 and a beta of 1.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.22. The business had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. Cameco's revenue was up 46.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 earnings per share. Analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCJ. BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a research report on Tuesday, August 5th. Glj Research reiterated a "buy" rating and set a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. Sanford C. Bernstein set a $70.00 price target on shares of Cameco and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Finally, Scotiabank reiterated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Twelve analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $82.65.

Cameco Profile

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.