Cameco Co. (NYSE:CCJ) Shares Sold by Financial Insights Inc.

Financial Insights Inc. lowered its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 49.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,882 shares of the basic materials company’s stock after selling 27,307 shares during the quarter. Financial Insights Inc.’s holdings in Cameco were worth $1,332,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Cameco in the 2nd quarter worth approximately $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Cameco during the 1st quarter valued at $31,131,000. King Luther Capital Management Corp acquired a new position in shares of Cameco during the 2nd quarter valued at $32,740,000. The Manufacturers Life Insurance Company increased its position in shares of Cameco by 28.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,987,526 shares of the basic materials company’s stock valued at $97,653,000 after purchasing an additional 437,921 shares during the period. Finally, Fred Alger Management LLC increased its position in shares of Cameco by 106.2% during the 2nd quarter. Fred Alger Management LLC now owns 841,182 shares of the basic materials company’s stock valued at $41,386,000 after purchasing an additional 433,234 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CCJ shares. Bank of America lifted their price target on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research report on Wednesday, June 26th. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Glj Research reissued a “buy” rating and set a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Scotiabank reduced their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $66.56.

Cameco Stock Performance

Shares of Cameco stock opened at $56.68 on Wednesday. The stock has a market cap of $24.67 billion, a PE ratio of 145.33 and a beta of 0.90. The business has a fifty day simple moving average of $45.14 and a 200-day simple moving average of $47.77. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. Cameco Co. has a 12 month low of $35.43 and a 12 month high of $58.72.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). The business had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. On average, sell-side analysts anticipate that Cameco Co. will post 0.83 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.