BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $9.97 Million Stock Position in Cameco Corporation $CCJ

Key Points

• British Columbia Investment Management Corp increased its stake in Cameco Corporation by 26.1%, owning 242,034 shares worth approximately $9.97 million as of the end of the most recent quarter.
• Cameco reported earnings of $0.51 per share for the last quarter, significantly exceeding analyst expectations, with revenue of $467.72 million, reflecting a 46.7% year-over-year increase.
• The company's stock is receiving positive sentiment from analysts, with a consensus rating of "Buy" and an average price target of $83.32.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 26.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,034 shares of the basic materials company's stock after purchasing an additional 50,141 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.06% of Cameco worth $9,965,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in Cameco in the 4th quarter valued at $1,660,000. First Trust Advisors LP acquired a new stake in shares of Cameco in the fourth quarter valued at about $390,000. Adage Capital Partners GP L.L.C. bought a new stake in Cameco during the fourth quarter worth about $2,570,000. Integrated Wealth Concepts LLC boosted its position in Cameco by 6.9% during the fourth quarter. Integrated Wealth Concepts LLC now owns 5,705 shares of the basic materials company's stock valued at $293,000 after purchasing an additional 370 shares during the last quarter. Finally, Prosperity Consulting Group LLC grew its stake in Cameco by 7.4% in the fourth quarter. Prosperity Consulting Group LLC now owns 9,700 shares of the basic materials company's stock valued at $498,000 after purchasing an additional 670 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Price Performance

Shares of NYSE CCJ traded down $1.06 during trading hours on Friday, hitting $77.57. 5,978,581 shares of the stock were exchanged, compared to its average volume of 4,730,777. The company's fifty day simple moving average is $75.04 and its two-hundred day simple moving average is $57.57. The company has a market cap of $33.77 billion, a PE ratio of 88.85 and a beta of 1.06. 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 Corporation has a 1-year low of $35.00 and a 1-year high of $83.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released 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. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The firm had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. During the same period in the prior year, the company earned $0.14 earnings per share. The company's quarterly revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on CCJ shares. Wall Street Zen upgraded shares of Cameco from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. National Bankshares reissued an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. Glj Research restated a "buy" rating and issued a $75.27 price target on shares of Cameco in a research note on Thursday, June 12th. TD Securities reiterated a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. Finally, Sanford C. Bernstein set a $70.00 target price on shares of Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Three equities research analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to MarketBeat, Cameco presently has a consensus rating of "Buy" and a consensus target price of $83.32.

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.