Phoenix Financial Ltd. Decreases Stock Position in Cameco Corporation (NYSE:CCJ)

Key Points

• Phoenix Financial Ltd. reduced its stake in Cameco Corporation by 24.1%, selling 27,782 shares, and now holds 87,558 shares valued at $3,604,000.
• Multiple institutional investors have increased their holdings in Cameco, with Vanguard Group and LPL Financial among those enhancing their positions.
• Cameco's stock has received a mix of ratings from analysts, with a consensus average rating of "Buy" and a target price of $80.65.

Phoenix Financial Ltd. lessened its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 24.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 87,558 shares of the basic materials company's stock after selling 27,782 shares during the period. Phoenix Financial Ltd.'s holdings in Cameco were worth $3,604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CCJ. Envestnet Portfolio Solutions Inc. raised its holdings in Cameco by 8.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,910 shares of the basic materials company's stock valued at $355,000 after buying an additional 565 shares during the period. LPL Financial LLC raised its holdings in Cameco by 16.7% during the 4th quarter. LPL Financial LLC now owns 246,009 shares of the basic materials company's stock valued at $12,642,000 after buying an additional 35,230 shares during the period. Vanguard Group Inc. raised its holdings in Cameco by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company's stock valued at $862,997,000 after buying an additional 270,102 shares during the period. Norges Bank purchased a new stake in Cameco during the 4th quarter valued at $188,595,000. Finally, Hartree Partners LP purchased a new stake in Cameco during the 4th quarter valued at $3,546,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wall Street Zen raised Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. The Goldman Sachs Group upped their price objective on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Desjardins assumed coverage on Cameco in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, UBS Group reaffirmed a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Cameco has an average rating of "Buy" and a consensus target price of $80.65.

Cameco Price Performance

CCJ opened at $79.60 on Friday. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $80.06. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15. The business's fifty day simple moving average is $68.07 and its 200-day simple moving average is $53.43. The company has a market capitalization of $34.66 billion, a price-to-earnings ratio of 199.00 and a beta of 1.03.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Cameco had a return on equity of 4.47% and a net margin of 7.50%. The firm had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. During the same period in the previous year, the company posted $0.13 EPS. Cameco's quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Company 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.

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