Truist Financial Corp Trims Stock Holdings in Cameco Co. (NYSE:CCJ)

Truist Financial Corp reduced its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,117 shares of the basic materials company’s stock after selling 2,785 shares during the period. Truist Financial Corp’s holdings in Cameco were worth $1,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in Cameco in the 1st quarter valued at about $26,000. Larson Financial Group LLC increased its stake in Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 600 shares during the period. Crewe Advisors LLC purchased a new stake in Cameco during the first quarter worth about $87,000. BNP Paribas purchased a new stake in Cameco during the first quarter worth about $93,000. Finally, Creekmur Asset Management LLC purchased a new stake in Cameco during the fourth quarter worth about $97,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Performance

Shares of CCJ opened at $51.35 on Friday. The stock has a 50 day moving average price of $42.77 and a 200 day moving average price of $47.27. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of 131.67 and a beta of 0.90. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 9.72% and a return on equity of 5.63%. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period last year, the company earned ($0.01) earnings per share. Research analysts predict that Cameco Co. will post 0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

CCJ has been the topic of a number of recent research reports. Scotiabank cut their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Glj Research restated a “buy” rating and set a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Cameco currently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco 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.