BOCHK Asset Management Ltd Invests $787,000 in Cameco Corporation $CCJ

Key Points

• BOCHK Asset Management Ltd has invested approximately $787,000 in Cameco Corporation, acquiring 10,600 shares and making it the 13th biggest holding in its portfolio.
• Analysts have issued predominantly "buy" ratings for Cameco, with a recent price target increase by Goldman Sachs from $65.00 to $78.00 and an average target of $89.55.
• Cameco reported earnings of $0.51 EPS for the last quarter, exceeding estimates, and generated $467.72 million in revenue, which represents a 46.7% increase year-over-year.

BOCHK Asset Management Ltd bought a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,600 shares of the basic materials company's stock, valued at approximately $787,000. Cameco accounts for about 0.2% of BOCHK Asset Management Ltd's holdings, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. grew its position in Cameco by 39.3% during 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 purchasing an additional 3,959,837 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Cameco by 215.7% during the 1st 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 during the last quarter. Temasek Holdings Private Ltd purchased a new stake in Cameco during the 1st quarter valued at about $55,513,000. Nuveen LLC purchased a new stake in Cameco during the 1st quarter valued at about $29,290,000. Finally, AGF Management Ltd. grew its position in Cameco by 19.0% during the 1st quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock valued at $166,206,000 after purchasing an additional 644,413 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. President Capital raised shares of Cameco from a "neutral" rating to a "buy" rating in a research report on Monday, September 22nd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a report on Friday, August 29th. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, September 2nd. TD Securities reaffirmed a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group raised their price objective on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy 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 $83.47 on Thursday. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $89.13. The stock has a market cap of $36.34 billion, a price-to-earnings ratio of 95.94 and a beta of 0.99. The company's 50 day moving average is $78.52 and its two-hundred day moving average is $63.66. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. During the same quarter last year, the business earned $0.14 EPS. The firm's revenue was up 46.7% compared to the same quarter last year. 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.

Cameco 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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