ARK Investment Management LLC Cuts Position in Cameco Corporation $CCJ

Key Points

• ARK Investment Management LLC reduced its stake in Cameco Corporation by 10.6%, owning 277,849 shares valued at approximately $20.6 million as of the latest SEC disclosure.
• Several institutional investors showed varying activity in Cameco, with Trust Co. of Vermont increasing its position by 1,029.4% during the same period.
• Analysts have a consensus rating of "Buy" for Cameco, with a reported average target price of $89.55.

ARK Investment Management LLC cut its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 10.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 277,849 shares of the basic materials company's stock after selling 32,972 shares during the period. ARK Investment Management LLC owned about 0.06% of Cameco worth $20,625,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCJ. Manchester Capital Management LLC grew its position in 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 in the last quarter. Dagco Inc. purchased a new position in Cameco in the first quarter worth $28,000. SVB Wealth LLC purchased a new position in Cameco in the first quarter worth $29,000. Trust Co. of Vermont grew its position in Cameco by 1,029.4% in the second 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 in the last quarter. Finally, Hilltop National Bank purchased a new stake in Cameco during the second quarter valued at about $30,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CCJ. National Bankshares restated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of Cameco from a "hold" rating to a "buy" rating in a research report on Sunday. BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a report on Friday, August 29th. TD Securities reiterated a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. Finally, UBS Group set a $102.00 price target on shares of Cameco in a research note on Tuesday, September 9th. One equities 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.com, Cameco currently has a consensus rating of "Buy" and an average target price of $89.55.

Cameco Price Performance

Shares of NYSE CCJ opened at $82.75 on Wednesday. The company has a market capitalization of $36.03 billion, a price-to-earnings ratio of 95.12 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The company has a 50 day simple moving average of $81.46 and a two-hundred day simple moving average of $68.15. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $97.79.

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 the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million during 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%. The firm's quarterly revenue was up 46.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. Analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

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.

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