Balboa Wealth Partners Has $957,000 Position in Cameco Corporation $CCJ

Key Points

• Balboa Wealth Partners has reduced its stake in Cameco Corporation by 49.2%, holding $957,000 worth of shares after selling 12,493 shares in the second quarter.
• Several institutional investors increased their positions in Cameco, with Canada Pension Plan Investment Board raising its holdings by 215.7% during the first quarter.
• Wall Street analysts have largely rated Cameco positively, with 14 analysts issuing a Buy rating and an average price target of $89.55.

Balboa Wealth Partners decreased its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 49.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,886 shares of the basic materials company's stock after selling 12,493 shares during the period. Balboa Wealth Partners' holdings in Cameco were worth $957,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Alliancebernstein L.P. lifted its position in Cameco by 39.3% in the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock valued at $578,226,000 after acquiring an additional 3,959,837 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Cameco by 215.7% in 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 purchasing an additional 1,387,797 shares in the last quarter. Temasek Holdings Private Ltd purchased a new position in shares of Cameco during the first quarter valued at approximately $55,513,000. Nuveen LLC purchased a new position in shares of Cameco during the first quarter valued at approximately $29,290,000. Finally, AGF Management Ltd. grew its holdings 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 buying an additional 644,413 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CCJ. Wall Street Zen raised shares of Cameco from a "hold" rating to a "buy" rating in a report on Sunday. CLSA assumed coverage on shares of Cameco in a report on Tuesday, September 9th. They set an "outperform" rating and a $102.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cameco in a research report on Wednesday, October 8th. TD Securities reissued a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada lifted their price target on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Cameco currently has an average rating of "Buy" and an average price target of $89.55.

Cameco Price Performance

NYSE CCJ opened at $86.75 on Monday. 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 company has a market cap of $37.77 billion, a PE ratio of 99.71 and a beta of 0.99. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $97.79. The firm's 50-day simple moving average is $81.21 and its two-hundred day simple moving average is $67.71.

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 for the quarter, topping the consensus estimate of $0.29 by $0.22. The firm 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 company's revenue was up 46.7% on a year-over-year basis. During the same quarter last year, the company earned $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. Research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current 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.

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