Sei Investments Co. Lowers Stake in Cameco Corporation $CCJ

Sei Investments Co. lowered its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 10.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 44,879 shares of the basic materials company’s stock after selling 5,479 shares during the period. Sei Investments Co.’s holdings in Cameco were worth $4,874,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in Cameco during the 4th quarter valued at approximately $443,265,000. Marshall Wace LLP lifted its holdings in shares of Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after acquiring an additional 1,729,454 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Cameco by 14,338.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after purchasing an additional 1,104,378 shares during the period. Man Group plc boosted its holdings in shares of Cameco by 126.3% in the 3rd quarter. Man Group plc now owns 1,698,728 shares of the basic materials company’s stock worth $142,455,000 after purchasing an additional 948,068 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in Cameco by 1,339.8% during the 4th quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock valued at $88,247,000 after buying an additional 897,558 shares during the period. Institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CCJ shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Truist Financial started coverage on shares of Cameco in a research note on Monday, July 13th. They set a “buy” rating and a $129.00 price target for the company. Scotiabank reissued an “outperform” rating and set a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Finally, Weiss Ratings cut shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and a consensus price target of $145.60.

Cameco Stock Up 1.5%

NYSE:CCJ opened at $94.45 on Thursday. The company has a current ratio of 3.06, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24. The company has a market cap of $41.14 billion, a PE ratio of 160.09, a P/E/G ratio of 1.50 and a beta of 1.05. The company’s 50 day moving average is $98.58 and its two-hundred day moving average is $109.53.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The firm had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. Analysts anticipate that Cameco Corporation will post 1.31 EPS for the current year.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.