Segment Wealth Management LLC Sells 6,194 Shares of Cameco Corporation $CCJ

Segment Wealth Management LLC cut its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 33.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,369 shares of the basic materials company’s stock after selling 6,194 shares during the period. Segment Wealth Management LLC’s holdings in Cameco were worth $1,072,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CCJ. HB Wealth Management LLC lifted its stake in Cameco by 3.1% in the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock worth $387,000 after purchasing an additional 107 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Cameco by 0.8% during the second quarter. Integrated Wealth Concepts LLC now owns 15,123 shares of the basic materials company’s stock valued at $1,540,000 after buying an additional 125 shares during the period. QRG Capital Management Inc. boosted its position in shares of Cameco by 4.1% during the first quarter. QRG Capital Management Inc. now owns 3,414 shares of the basic materials company’s stock valued at $371,000 after buying an additional 134 shares during the period. Novem Group boosted its position in shares of Cameco by 5.1% during the third quarter. Novem Group now owns 2,854 shares of the basic materials company’s stock valued at $247,000 after buying an additional 138 shares during the period. Finally, Montag A & Associates Inc. grew its stake in shares of Cameco by 7.8% during the first quarter. Montag A & Associates Inc. now owns 1,940 shares of the basic materials company’s stock valued at $211,000 after buying an additional 140 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Up 4.1%

Shares of NYSE:CCJ opened at $82.33 on Wednesday. The company has a market capitalization of $35.86 billion, a price-to-earnings ratio of 139.55 and a beta of 1.17. Cameco Corporation has a 52 week low of $76.92 and a 52 week high of $135.24. The firm has a 50 day moving average of $91.54 and a 200 day moving average of $104.58.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results 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 during the quarter, compared to analyst estimates of $579.60 million. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, sell-side analysts expect that Cameco Corporation will post 1.09 EPS for the current year.

Wall Street Analyst Weigh In

CCJ has been the topic of several recent analyst reports. Citigroup reiterated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Barclays dropped their price objective on Cameco from $97.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, October 19th. Bank of America cut their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Zacks Research lowered Cameco from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.10.

About Cameco

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.