Cameco Corporation $CCJ Shares Sold by Kercheville Advisors LLC

Kercheville Advisors LLC lessened its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 23.6% in the third quarter, Holdings Channel.com reports. The fund owned 31,852 shares of the basic materials company’s stock after selling 9,850 shares during the quarter. Kercheville Advisors LLC’s holdings in Cameco were worth $2,761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of America Corp DE acquired a new position in shares of Cameco in the 2nd quarter valued at $735,498,000. Canada Pension Plan Investment Board bought a new position in shares of Cameco in the 2nd quarter worth $420,346,000. BlackRock Inc. acquired a new stake in shares of Cameco during the second quarter worth $381,091,000. Cibc World Market Inc. acquired a new stake in shares of Cameco during the second quarter worth $354,022,000. Finally, Amundi grew its stake in shares of Cameco by 13.7% during the second quarter. Amundi now owns 2,992,074 shares of the basic materials company’s stock worth $304,773,000 after purchasing an additional 359,375 shares during the period. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

Cameco stock traded down $0.81 during mid-day trading on Monday, reaching $80.72. 1,991,459 shares of the company’s stock were exchanged, compared to its average volume of 3,523,837. The firm has a market capitalization of $35.15 billion, a PE ratio of 136.81, a P/E/G ratio of 1.66 and a beta of 1.17. The business’s fifty day simple moving average is $94.11 and its 200 day simple moving average is $101.48. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. Cameco Corporation has a one year low of $77.70 and a one year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%. The company had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same period in the prior year, the firm posted $0.71 EPS. The business’s revenue was down 6.8% on a year-over-year basis. On average, sell-side analysts expect that Cameco Corporation will post 1.07 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on CCJ shares. Wall Street Zen downgraded Cameco from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Royal Bank Of Canada raised their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Citigroup restated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Weiss Ratings upgraded Cameco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Truist Financial upped their price target on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus target price of $148.52.

Cameco Company Profile

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.