Ausbil Investment Management Ltd Grows Stock Position in Cameco Corporation $CCJ

Key Points

• Ausbil Investment Management Ltd increased its stake in Cameco Corporation by 37.5% during the 2nd quarter, now holding 11,000 shares valued at $815,000.
• Several institutional investors, including Manchester Capital Management and Caitong International Asset Management, have significantly altered their positions in Cameco, reflecting strong interest in the stock.
• Cameco reported $0.51 earnings per share (EPS) in its latest quarter, exceeding expectations, while quarterly revenue increased by 46.7% year-over-year.

Ausbil Investment Management Ltd grew its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 37.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,000 shares of the basic materials company's stock after acquiring an additional 3,000 shares during the quarter. Ausbil Investment Management Ltd's holdings in Cameco were worth $815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CCJ. Manchester Capital Management LLC lifted 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 valued at $25,000 after acquiring an additional 300 shares in the last quarter. Dagco Inc. purchased a new position in shares of Cameco in the first quarter valued at approximately $28,000. SVB Wealth LLC purchased a new position in shares of Cameco in the first quarter valued at approximately $29,000. Atticus Wealth Management LLC purchased a new position in shares of Cameco in the second quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Cameco by 1,798.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,215 shares of the basic materials company's stock valued at $50,000 after acquiring an additional 1,151 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Price Performance

CCJ stock opened at $85.52 on Friday. The business has a fifty day moving average of $78.17 and a two-hundred day moving average of $62.93. 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 stock has a market cap of $37.23 billion, a price-to-earnings ratio of 98.30 and a beta of 1.04. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $89.13.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.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. As a group, research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Analysts Set New Price Targets

CCJ has been the topic of several research reports. National Bankshares restated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Royal Bank Of Canada lifted their price objective on Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. The Goldman Sachs Group lifted their price objective on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Finally, Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $89.55.

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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