Sequoia Financial Advisors LLC Raises Position in Cameco Corporation $CCJ

Sequoia Financial Advisors LLC lifted its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 14.3% during the second quarter, HoldingsChannel reports. The fund owned 106,825 shares of the basic materials company’s stock after acquiring an additional 13,399 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cameco were worth $10,881,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Bison Wealth LLC raised its stake in shares of Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 2,975 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after buying an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after acquiring an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Cameco by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 64,512 shares in the last quarter. Finally, NewGen Equity Long Short Fund purchased a new position in Cameco in the second quarter worth $14,252,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Trading Down 3.0%

Shares of CCJ opened at $97.41 on Friday. The stock has a fifty day moving average of $95.29 and a two-hundred day moving average of $105.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. The company has a market capitalization of $42.43 billion, a PE ratio of 165.11, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. Cameco Corporation has a fifty-two week low of $77.53 and a fifty-two week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.Cameco’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 EPS. As a group, analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CCJ shares. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Royal Bank Of Canada raised their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Bank of America decreased their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group began coverage on Cameco in a research report on Thursday, September 3rd. They issued a “buy” rating and a $138.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.68.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world’s largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.