Belpointe Asset Management LLC Purchases New Holdings in Cameco Corporation $CCJ

Key Points

• Belpointe Asset Management LLC invested $891,000 in Cameco Corporation, purchasing 21,652 shares in the first quarter.
• Several institutional investors, including Canada Pension Plan Investment Board and Alliancebernstein L.P., significantly increased their holdings in Cameco, resulting in 70.21% institutional ownership of the company's stock.
• Cameco's latest earnings report revealed an EPS of $0.51, exceeding analysts' expectations by $0.22, while the company's revenue rose 46.7% year-over-year.

Belpointe Asset Management LLC purchased a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,652 shares of the basic materials company's stock, valued at approximately $891,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC boosted its position in shares of Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Dagco Inc. bought a new stake in shares of Cameco during the 1st quarter valued at about $28,000. SVB Wealth LLC bought a new stake in shares of Cameco during the 1st quarter valued at about $29,000. Copia Wealth Management bought a new stake in shares of Cameco during the 4th quarter valued at about $39,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Cameco during the 4th quarter valued at about $40,000. Institutional investors own 70.21% of the company's stock.

Cameco Stock Up 10.4%

Shares of Cameco stock traded up $8.16 on Monday, hitting $86.27. The company had a trading volume of 10,188,686 shares, compared to its average volume of 3,625,969. The stock has a market capitalization of $37.56 billion, a price-to-earnings ratio of 99.16 and a beta of 1.04. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $86.37. The stock has a 50 day moving average of $76.43 and a 200-day moving average of $60.41. 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 issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 EPS 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 return on equity of 8.21% and a net margin of 14.97%.The company's quarterly revenue was up 46.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on CCJ. National Bankshares restated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Wall Street Zen lowered Cameco from a "buy" rating to a "hold" rating in a report on Monday. The Goldman Sachs Group increased their price target on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a report on Friday, August 29th. Finally, Scotiabank reiterated an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price 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.