Cameco Corporation $CCJ Position Increased by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has increased its stake in Cameco Corporation by 39.3% in the first quarter, acquiring an additional 3,959,837 shares to reach a total of 14,048,244 shares, valued at approximately $578.2 million.
• A number of institutional investors have modified their positions in Cameco, with 70.21% of the company's stock now owned by institutional investors and hedge funds.
• Several analysts reaffirmed positive ratings for Cameco, with a consensus target price of $83.32 and two analysts rating the stock as a Strong Buy.

Alliancebernstein L.P. raised its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 39.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,048,244 shares of the basic materials company's stock after acquiring an additional 3,959,837 shares during the period. Alliancebernstein L.P. owned approximately 3.23% of Cameco worth $578,226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Country Club Bank increased its holdings in Cameco by 0.5% during the 1st quarter. Country Club Bank now owns 43,553 shares of the basic materials company's stock valued at $1,822,000 after acquiring an additional 224 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Cameco by 0.5% in the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company's stock worth $2,592,000 after acquiring an additional 238 shares during the last quarter. Sunpointe LLC boosted its position in shares of Cameco by 1.8% in the first quarter. Sunpointe LLC now owns 16,281 shares of the basic materials company's stock worth $670,000 after acquiring an additional 288 shares during the last quarter. Highview Capital Management LLC DE boosted its position in shares of Cameco by 5.0% in the fourth quarter. Highview Capital Management LLC DE now owns 6,246 shares of the basic materials company's stock worth $321,000 after acquiring an additional 300 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its position in shares of Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Down 0.6%

Shares of NYSE CCJ traded down $0.46 during trading on Friday, reaching $75.85. 2,480,601 shares of the stock were exchanged, compared to its average volume of 3,650,273. The business's 50-day moving average price is $75.64 and its 200 day moving average price is $58.82. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $83.02. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $33.02 billion, a price-to-earnings ratio of 87.18 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. During the same period in the previous year, the company posted $0.14 earnings per share. The business's revenue for the quarter was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Sanford C. Bernstein set a $70.00 price target on shares of Cameco and gave the company an "outperform" rating in a research report on Tuesday, June 10th. UBS Group reaffirmed a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research report on Tuesday. National Bankshares reaffirmed an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. According to MarketBeat, Cameco currently has an average rating of "Buy" and a consensus price target of $83.32.

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.