Principal Financial Group Inc. Sells 1,100 Shares of Cameco Co. (NYSE:CCJ)

Principal Financial Group Inc. lessened its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,600 shares of the basic materials company’s stock after selling 1,100 shares during the quarter. Principal Financial Group Inc.’s holdings in Cameco were worth $1,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CCJ. LRI Investments LLC acquired a new position in shares of Cameco during the first quarter worth $26,000. Principal Securities Inc. purchased a new position in Cameco during the 4th quarter worth $29,000. Lindbrook Capital LLC increased its position in Cameco by 26.0% during the 1st quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock valued at $46,000 after buying an additional 221 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Cameco by 99.3% in the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 600 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Cameco during the first quarter worth about $87,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CCJ shares. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Bank of America lifted their price objective 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. Scotiabank cut their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. The Goldman Sachs Group lifted their price target on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, Glj Research restated a “buy” rating and issued a $63.73 price objective 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $67.25.

Cameco Price Performance

Shares of CCJ opened at $40.71 on Friday. The business’s 50-day moving average is $42.98 and its two-hundred day moving average is $46.47. The company has a market capitalization of $17.72 billion, a P/E ratio of 104.38 and a beta of 0.90. Cameco Co. has a fifty-two week low of $35.18 and a fifty-two week high of $56.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 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 company had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. During the same period last year, the business earned ($0.01) earnings per share. The firm’s revenue was up 24.1% on a year-over-year basis. Research analysts predict that Cameco Co. will post 0.96 earnings per share for the current year.

About Cameco

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.