Ashton Thomas Private Wealth LLC Buys 8,047 Shares of Cameco Corporation $CCJ

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Cameco Corporation by 183.9% in the first quarter, acquiring an additional 8,047 shares, bringing its total holding to 12,423 shares valued at approximately $511,000.
• Institutional investors now own 70.21% of Cameco's stock, with significant increases in holdings from firms like Canada Pension Plan Investment Board and AllianceBernstein.
• Analysts remain optimistic about Cameco, with a consensus rating of "Buy" and an average target price of $89.55, following favorable earnings results that surpassed expectations.

Ashton Thomas Private Wealth LLC boosted its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 183.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,423 shares of the basic materials company's stock after buying an additional 8,047 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Cameco were worth $511,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CCJ. Alliancebernstein L.P. grew its position in Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock valued at $578,226,000 after buying an additional 3,959,837 shares during the period. Canada Pension Plan Investment Board grew its position in Cameco by 215.7% during the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock valued at $83,636,000 after buying an additional 1,387,797 shares during the period. Temasek Holdings Private Ltd bought a new position in Cameco during the first quarter valued at about $55,513,000. Nuveen LLC bought a new position in Cameco during the first quarter worth about $29,290,000. Finally, AGF Management Ltd. boosted its position in Cameco by 19.0% during the first quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock worth $166,206,000 after purchasing an additional 644,413 shares during the period. Institutional investors own 70.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. CLSA assumed coverage on shares of Cameco in a research report on Tuesday. They set an "outperform" rating and a $102.00 target price for the company. BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. The Goldman Sachs Group increased their target price on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Finally, Royal Bank Of Canada increased their target price on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $89.55.

Cameco Trading Up 0.6%

Shares of Cameco stock opened at $79.94 on Friday. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $83.02. The company has a market cap of $34.81 billion, a price-to-earnings ratio of 91.89 and a beta of 1.04. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $76.11 and its 200-day moving average price is $59.66.

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 (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 firm had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The company's revenue for the quarter was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. On average, equities analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Company 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.

Want to see what other hedge funds are holding CCJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.