Cameco Corporation $CCJ Shares Sold by Synovus Financial Corp

Synovus Financial Corp trimmed its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 23.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,309 shares of the basic materials company’s stock after selling 18,170 shares during the period. Synovus Financial Corp’s holdings in Cameco were worth $4,974,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Abbington Investment Group purchased a new position in shares of Cameco during the 3rd quarter worth approximately $6,506,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cameco by 79.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after buying an additional 110,629 shares in the last quarter. Nwam LLC grew its holdings in Cameco by 11.7% during the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock valued at $6,304,000 after buying an additional 8,519 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Cameco by 165.1% during the second quarter. Hillsdale Investment Management Inc. now owns 169,448 shares of the basic materials company’s stock worth $12,593,000 after buying an additional 105,523 shares in the last quarter. Finally, NWF Advisory Services Inc. acquired a new position in shares of Cameco in the third quarter worth $1,996,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cameco in a report on Monday, December 29th. Finally, Scotiabank restated an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.03.

Cameco Stock Performance

NYSE:CCJ opened at $121.05 on Friday. The firm has a market capitalization of $52.72 billion, a price-to-earnings ratio of 124.62 and a beta of 0.99. The company has a current ratio of 2.47, a quick ratio of 1.85 and a debt-to-equity ratio of 0.14. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $135.24. The firm’s fifty day simple moving average is $108.19 and its 200 day simple moving average is $92.95.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $874.57 million during the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.Cameco’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. As a group, equities research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Company Profile

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.