Baader Bank Aktiengesellschaft Raises Position in Cameco Corporation $CCJ

Key Points

• Baader Bank Aktiengesellschaft increased its stake in Cameco Corporation by 22.2%, acquiring an additional 8,674 shares during the second quarter, bringing its total holdings to 47,761 shares valued at approximately $3.5 million.
• Research firms are bullish on Cameco, with Goldman Sachs raising its price target from $65 to $78 and analysts generally rating the stock as a "Buy" with an average target of $89.55.
• Cameco reported a quarterly earnings per share of $0.51, significantly exceeding consensus estimates of $0.29, and its revenue grew by 46.7% year-over-year, with a strong outlook for FY 2025.

Baader Bank Aktiengesellschaft lifted its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 22.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,761 shares of the basic materials company's stock after purchasing an additional 8,674 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Cameco were worth $3,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MetLife Investment Management LLC acquired a new stake in Cameco during the 1st quarter worth about $2,131,000. Northwest & Ethical Investments L.P. increased its position in Cameco by 50.0% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company's stock worth $1,750,000 after buying an additional 14,154 shares during the period. Kayne Anderson Capital Advisors LP increased its position in Cameco by 41.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock worth $1,663,000 after buying an additional 11,879 shares during the period. Edmond DE Rothschild Holding S.A. increased its position in shares of Cameco by 74.7% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company's stock valued at $2,017,000 after purchasing an additional 20,947 shares during the period. Finally, Nicholson Meyer Capital Management Inc. bought a new stake in shares of Cameco during the first quarter valued at approximately $350,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Price Performance

CCJ traded up $3.69 on Friday, reaching $86.30. The stock had a trading volume of 7,970,267 shares, compared to its average volume of 4,046,154. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $86.84. The firm has a 50-day moving average of $77.31 and a 200-day moving average of $61.42. 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 has a market capitalization of $37.57 billion, a price-to-earnings ratio of 99.20 and a beta of 1.04.

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

Wall Street Analyst Weigh In

CCJ has been the topic of a number of analyst reports. TD Securities reiterated a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. Royal Bank Of Canada upped their price target on Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. CLSA initiated coverage on Cameco in a research report on Tuesday, September 9th. They issued an "outperform" rating and a $102.00 price target on the stock. National Bankshares reiterated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Finally, Glj Research reissued a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Two analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. Based on data from MarketBeat.com, Cameco has an average rating of "Buy" and an average target price of $89.55.

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.