Allianz Asset Management GmbH Sells 99,425 Shares of Cameco Corporation $CCJ

Key Points

• Allianz Asset Management GmbH significantly reduced its stake in Cameco Corporation by 72.1%, selling 99,425 shares in the second quarter, leaving it with 38,442 shares valued at approximately $2.85 million.
• Multiple hedge funds adjusted their positions in Cameco in recent months, with institutional investors owning about 70.21% of the company's stock.
• Analysts appear optimistic about Cameco's future, with one rating a Strong Buy and a majority issuing Buy ratings, targeting an average price of $89.55 for the stock.

Allianz Asset Management GmbH lowered its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 72.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,442 shares of the basic materials company's stock after selling 99,425 shares during the quarter. Allianz Asset Management GmbH's holdings in Cameco were worth $2,852,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its holdings in Cameco by 100.0% during the 1st 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. Dagco Inc. bought a new stake in Cameco during the 1st quarter worth about $28,000. SVB Wealth LLC bought a new stake in Cameco during the 1st quarter worth about $29,000. Trust Co. of Vermont grew its holdings in Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock worth $29,000 after acquiring an additional 350 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in Cameco during the 2nd quarter worth about $30,000. Institutional investors own 70.21% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CCJ. Royal Bank Of Canada increased their price objective on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research report on Friday, October 10th. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. President Capital upgraded shares of Cameco from a "neutral" rating to a "buy" rating in a research report on Monday, September 22nd. Finally, National Bankshares restated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Cameco presently has an average rating of "Buy" and an average target price of $89.55.

Cameco Stock Performance

Cameco stock opened at $88.11 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $97.79. The company has a market cap of $38.36 billion, a PE ratio of 101.28 and a beta of 0.99. The company's 50-day moving average is $82.08 and its two-hundred day moving average is $68.95.

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

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