Vident Advisory LLC Sells 178,960 Shares of Cameco Corporation $CCJ

Key Points

• Vident Advisory LLC reduced its position in Cameco Corporation by 22.4% in Q1 2023, selling 178,960 shares and holding approximately $25.49 million worth of stock by the end of the quarter.
• Shares of Cameco Corporation opened at $78.69, with a market cap of $34.26 billion, a P/E ratio of 90.44, and a 52-week price range of $35.00 to $80.32.
• Recent earnings reported a $0.51 EPS, exceeding estimates, and analysts maintain a buy rating with an average target price of $83.32.

Vident Advisory LLC lowered its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 22.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 619,321 shares of the basic materials company's stock after selling 178,960 shares during the quarter. Vident Advisory LLC owned about 0.14% of Cameco worth $25,491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CCJ. Canada Pension Plan Investment Board lifted its holdings in shares of Cameco by 215.7% during the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock worth $83,636,000 after buying an additional 1,387,797 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Cameco by 120.2% during the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock worth $115,398,000 after buying an additional 1,225,966 shares in the last quarter. Nuveen LLC acquired a new position in Cameco in the first quarter valued at about $29,290,000. AGF Management Ltd. raised its stake in Cameco by 19.0% in the first quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock valued at $166,206,000 after purchasing an additional 644,413 shares in the last quarter. Finally, Covea Finance raised its stake in Cameco by 52.8% in the first quarter. Covea Finance now owns 1,665,979 shares of the basic materials company's stock valued at $68,572,000 after purchasing an additional 575,393 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Analyst Ratings Changes

CCJ has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a research note on Friday. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. UBS Group reaffirmed a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. National Bankshares reaffirmed an "outperform" rating on shares of Cameco in a research note on Friday, August 22nd. Finally, Glj Research reaffirmed a "buy" rating and issued a $75.27 price target on shares of Cameco in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $83.32.

Cameco Trading Down 2.6%

Shares of Cameco stock traded down $2.03 on Tuesday, hitting $75.37. The stock had a trading volume of 4,947,604 shares, compared to its average volume of 4,736,046. The stock has a 50 day moving average of $75.37 and a 200 day moving average of $58.09. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $83.02. 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 $32.81 billion, a P/E ratio of 86.63 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The firm's revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. Sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

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.