Banque Transatlantique SA Purchases Shares of 4,897 Cameco Corporation $CCJ

Key Points

• Banque Transatlantique SA acquired 4,897 shares of Cameco Corporation valued at approximately $187,000 in the first quarter, as stated in its recent 13F filing.
• Other investors like Alliancebernstein L.P. and Canada Pension Plan Investment Board have also increased their stakes significantly in Cameco.
• Analysts currently rate Cameco as a "Buy", with a consensus price target of $83.32 and several firms projecting optimistic earnings forecasts.

Banque Transatlantique SA purchased a new position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,897 shares of the basic materials company's stock, valued at approximately $187,000.

A number of other institutional investors and hedge funds have also modified their holdings of CCJ. Alliancebernstein L.P. boosted its holdings 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 worth $578,226,000 after buying an additional 3,959,837 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after buying an additional 1,361 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in Cameco by 10.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 2,461,263 shares of the basic materials company's stock worth $101,154,000 after buying an additional 228,148 shares during the last quarter. MAI Capital Management boosted its holdings in Cameco by 564.2% during the first quarter. MAI Capital Management now owns 2,504 shares of the basic materials company's stock worth $103,000 after buying an additional 2,127 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Cameco by 1.2% during the first quarter. The Manufacturers Life Insurance Company now owns 2,148,544 shares of the basic materials company's stock worth $88,917,000 after buying an additional 26,075 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CCJ. Scotiabank restated an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. The Goldman Sachs Group raised their target price on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Glj Research reaffirmed a "buy" rating and set a $75.27 price target on shares of Cameco in a research report on Thursday, June 12th. National Bankshares reiterated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Finally, Royal Bank Of Canada increased their target price on Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $83.32.

Cameco Stock Down 0.6%

Cameco stock traded down $0.46 during midday trading on Friday, reaching $75.85. The stock had a trading volume of 2,480,601 shares, compared to its average volume of 3,585,882. The firm's fifty day simple moving average is $75.64 and its 200-day simple moving average is $58.90. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $83.02. The stock has a market capitalization of $33.02 billion, a P/E ratio of 87.18 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (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 business had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. During the same quarter last year, the firm earned $0.14 EPS. Cameco's revenue for the quarter was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

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.