Segment Wealth Management LLC reduced its position in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) by 33.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,369 shares of the basic materials company’s stock after selling 6,194 shares during the period. Segment Wealth Management LLC’s holdings in Cameco were worth $1,072,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE bought a new position in shares of Cameco during the 2nd quarter worth approximately $735,498,000. Canada Pension Plan Investment Board purchased a new stake in Cameco during the second quarter valued at approximately $420,346,000. BlackRock Inc. purchased a new stake in Cameco during the second quarter valued at approximately $381,091,000. Cibc World Market Inc. acquired a new stake in Cameco in the second quarter valued at approximately $354,022,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Cameco in the second quarter valued at approximately $301,990,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.
Analysts Set New Price Targets
CCJ has been the topic of several analyst reports. Bank of America cut their price target on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Truist Financial reduced their price target on Cameco from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Barclays decreased their price objective on Cameco from $97.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Finally, Zacks Research cut Cameco from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus target price of $148.10.
Get Our Latest Stock Report on CCJ
Cameco Stock Up 4.1%
Shares of NYSE:CCJ opened at $82.33 on Wednesday. Cameco Corporation has a 52-week low of $76.92 and a 52-week high of $135.24. The stock has a market cap of $35.86 billion, a price-to-earnings ratio of 139.55 and a beta of 1.17. The business has a 50-day moving average price of $91.54 and a 200-day moving average price of $104.58.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The company had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the business earned $0.71 earnings per share. As a group, equities analysts anticipate that Cameco Corporation will post 1.09 EPS for the current fiscal year.
About Cameco
Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.
Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.
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