Confluence Investment Management LLC Reduces Position in Cameco Co. (NYSE:CCJ)

Confluence Investment Management LLC cut its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 2.1% during the second quarter, HoldingsChannel reports. The firm owned 21,259 shares of the basic materials company’s stock after selling 445 shares during the quarter. Confluence Investment Management LLC’s holdings in Cameco were worth $1,046,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CCJ. Vanguard Group Inc. grew its position in shares of Cameco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock valued at $689,306,000 after buying an additional 200,871 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cameco by 2.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock worth $593,967,000 after purchasing an additional 288,400 shares during the period. Capital World Investors boosted its stake in Cameco by 1.6% during the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock worth $593,524,000 after purchasing an additional 215,741 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Cameco by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock worth $282,210,000 after purchasing an additional 202,157 shares during the period. Finally, National Bank of Canada FI boosted its stake in Cameco by 25.6% during the 4th quarter. National Bank of Canada FI now owns 4,180,221 shares of the basic materials company’s stock worth $175,714,000 after purchasing an additional 850,704 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CCJ shares. The Goldman Sachs Group raised their target price on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday. Finally, Bank of America raised their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.70.

Cameco Price Performance

NYSE:CCJ traded down $2.99 during mid-day trading on Friday, hitting $38.03. 9,842,671 shares of the company’s stock traded hands, compared to its average volume of 3,677,909. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.69 and a current ratio of 3.22. The firm’s 50 day simple moving average is $50.28 and its 200 day simple moving average is $47.62. Cameco Co. has a 1 year low of $32.89 and a 1 year high of $56.24. The company has a market cap of $16.55 billion, a PE ratio of 97.51 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The firm had revenue of $598.00 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. Sell-side analysts expect that Cameco Co. will post 1.06 EPS for the current year.

Cameco Company Profile

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.