Covea Finance Sells 40,785 Shares of Cameco Co. (NYSE:CCJ)

Covea Finance trimmed its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,070,933 shares of the basic materials company’s stock after selling 40,785 shares during the period. Cameco makes up approximately 1.8% of Covea Finance’s holdings, making the stock its 13th largest holding. Covea Finance owned approximately 0.25% of Cameco worth $33,518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clearview Wealth Advisors LLC bought a new stake in Cameco in the 1st quarter valued at $25,000. Global Retirement Partners LLC increased its stake in Cameco by 291.3% in the first quarter. Global Retirement Partners LLC now owns 1,209 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 900 shares during the period. Ahrens Investment Partners LLC bought a new stake in Cameco in the first quarter valued at about $37,000. 1832 Asset Management L.P. grew its stake in shares of Cameco by 61.9% in the 1st quarter. 1832 Asset Management L.P. now owns 1,700 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 650 shares during the period. Finally, Princeton Global Asset Management LLC grew its position in Cameco by 8,000.0% in the first quarter. Princeton Global Asset Management LLC now owns 2,025 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 2,000 shares during the period. 66.57% of the stock is currently owned by institutional investors.

Cameco Stock Performance

CCJ stock traded up $0.84 during midday trading on Friday, reaching $40.73. 1,191,100 shares of the company were exchanged, compared to its average volume of 4,246,303. The firm has a market capitalization of $17.67 billion, a price-to-earnings ratio of 265.93, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.64 and a quick ratio of 3.00. The business has a 50-day moving average price of $34.68 and a two-hundred day moving average price of $30.07. Cameco Co. has a one year low of $21.02 and a one year high of $40.80.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). The business had revenue of $482.00 million during the quarter, compared to the consensus estimate of $636.37 million. Cameco had a net margin of 4.67% and a return on equity of 2.74%. The company’s revenue was down 13.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. Equities research analysts forecast that Cameco Co. will post 0.63 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on CCJ shares. Canaccord Genuity Group upped their price objective on shares of Cameco from $49.50 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. TD Securities raised their target price on Cameco from C$51.00 to C$55.00 and gave the stock an “action list buy” rating in a report on Thursday, August 3rd. Bank of America increased their target price on Cameco from C$50.00 to C$59.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. Cantor Fitzgerald lowered shares of Cameco from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Finally, Scotiabank reduced their target price on shares of Cameco from C$50.00 to C$49.00 in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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.