Confluence Investment Management LLC Sells 445 Shares of Cameco Co. (NYSE:CCJ)

Confluence Investment Management LLC cut its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,259 shares of the basic materials company’s stock after selling 445 shares during the period. Confluence Investment Management LLC’s holdings in Cameco were worth $1,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New Hampshire grew its holdings in Cameco by 2.3% during the second quarter. Bank of New Hampshire now owns 40,378 shares of the basic materials company’s stock valued at $1,987,000 after purchasing an additional 925 shares during the period. Hamilton Wealth LLC grew its holdings in Cameco by 76.3% during the first quarter. Hamilton Wealth LLC now owns 8,978 shares of the basic materials company’s stock valued at $389,000 after purchasing an additional 3,886 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Cameco by 22.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 124,821 shares of the basic materials company’s stock valued at $5,338,000 after purchasing an additional 22,820 shares during the period. Beck Bode LLC grew its holdings in Cameco by 11.2% during the first quarter. Beck Bode LLC now owns 46,681 shares of the basic materials company’s stock valued at $2,022,000 after purchasing an additional 4,689 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of Cameco during the first quarter worth $26,000. 70.21% of the stock is owned by institutional investors.

Cameco Price Performance

Shares of CCJ stock traded down $2.99 on Friday, reaching $38.03. The company’s stock had a trading volume of 9,842,671 shares, compared to its average volume of 3,677,909. The company has a quick ratio of 0.69, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. Cameco Co. has a 12-month low of $32.89 and a 12-month high of $56.24. The company has a market capitalization of $16.55 billion, a P/E ratio of 97.51 and a beta of 0.92. The stock’s 50 day simple moving average is $50.28 and its 200-day simple moving average is $47.62.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The firm had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. During the same period last year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. As a group, equities analysts predict that Cameco Co. will post 1.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. The Goldman Sachs Group increased their target price on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Bank of America increased their target price on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday. 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $63.70.

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.