Truist Financial Corp Trims Stock Holdings in Cameco Corporation $CCJ

Key Points

• Truist Financial Corp reduced its stake in Cameco Corporation by 9.0% in Q2, now owning 29,379 shares valued at approximately $2.18 million.
• Cameco reported $0.51 earnings per share for the quarter, significantly beating analyst expectations, and its revenue increased by 46.7% compared to the previous year.
• Analysts generally maintain a "Buy" rating on Cameco stock, with a consensus price target of $89.55, indicating positive future expectations.

Truist Financial Corp lessened its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 9.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,379 shares of the basic materials company's stock after selling 2,912 shares during the quarter. Truist Financial Corp's holdings in Cameco were worth $2,181,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Atticus Wealth Management LLC purchased a new stake in shares of Cameco during the second quarter worth approximately $34,000. Manchester Capital Management LLC raised its stake in shares of Cameco by 100.0% during 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 last quarter. Dagco Inc. purchased a new stake in shares of Cameco during the first quarter worth approximately $28,000. SVB Wealth LLC purchased a new stake in shares of Cameco during the first quarter worth approximately $29,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Cameco by 1,798.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,215 shares of the basic materials company's stock worth $50,000 after purchasing an additional 1,151 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Stock Down 0.1%

Cameco stock opened at $86.61 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The firm has a market capitalization of $37.71 billion, a price-to-earnings ratio of 99.55 and a beta of 0.99. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $91.58. The stock's fifty day moving average is $79.67 and its two-hundred day moving average is $65.65.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results 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 company had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.Cameco's revenue was up 46.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. Analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CCJ. President Capital upgraded Cameco from a "neutral" rating to a "buy" rating in a research note on Monday, September 22nd. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. TD Securities reaffirmed a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. National Bankshares reaffirmed an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. Finally, UBS Group set a $102.00 price objective on Cameco in a report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $89.55.

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.

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