Synovus Financial Corp Cuts Stake in Cameco Corporation $CCJ

Key Points

• Synovus Financial Corp reduced its stake in Cameco Corporation by 38.8%, selling 50,548 shares in the first quarter, leaving it with 79,830 shares valued at $3,286,000.
• Several large investors recently increased their investments in Cameco, with 70.21% of the stock now owned by institutional investors.
• Cameco reported a 46.7% year-over-year increase in revenue, posting $0.51 earnings per share for the latest quarter, which surpassed expectations of $0.29.

Synovus Financial Corp cut its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 38.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 79,830 shares of the basic materials company's stock after selling 50,548 shares during the quarter. Synovus Financial Corp's holdings in Cameco were worth $3,286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CCJ. Manchester Capital Management LLC grew its stake in shares of Cameco by 100.0% during the 1st 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. Dagco Inc. acquired a new position in shares of Cameco during the 1st quarter worth $28,000. SVB Wealth LLC acquired a new position in shares of Cameco during the 1st quarter worth $29,000. Copia Wealth Management acquired a new position in shares of Cameco during the 4th quarter worth $39,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Cameco during the 4th quarter worth $40,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on CCJ. TD Securities reissued a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. UBS Group reissued a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. Scotiabank reissued an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Wall Street Zen cut shares of Cameco from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, National Bankshares reissued an "outperform" rating on shares of Cameco in a research note on Friday, August 22nd. Three investment analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $83.32.

Cameco Trading Down 1.4%

NYSE:CCJ traded down $1.09 on Friday, reaching $77.54. The stock had a trading volume of 6,982,094 shares, compared to its average volume of 3,889,428. The company has a market cap of $33.76 billion, a price-to-earnings ratio of 89.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The firm's fifty day moving average is $75.22 and its two-hundred day moving average is $57.88. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $83.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. The company 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%. The firm's quarterly revenue was up 46.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Equities analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

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.