Nicola Wealth Management LTD. Acquires 5,000 Shares of Cameco Corporation $CCJ

Key Points

• Nicola Wealth Management LTD. increased its holdings in Cameco Corporation by 13.9% during the 1st quarter, bringing its total to 41,000 shares worth approximately $1.69 million.
• Several hedge funds have recently engaged with Cameco, with notable increases in holdings, such as Manchester Capital Management, which grew its stake by 100%.
• Cameco's recent earnings report showed an EPS of $0.51, exceeding expectations, with quarterly revenue up 46.7% compared to the previous year.

Nicola Wealth Management LTD. raised its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,000 shares of the basic materials company's stock after acquiring an additional 5,000 shares during the quarter. Nicola Wealth Management LTD.'s holdings in Cameco were worth $1,688,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its stake in Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. Dagco Inc. purchased a new position in Cameco in the first quarter valued at about $28,000. SVB Wealth LLC purchased a new position in Cameco in the first quarter valued at about $29,000. Copia Wealth Management purchased a new position in Cameco in the fourth quarter valued at about $39,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Cameco during the 4th quarter valued at approximately $40,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price target on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Glj Research restated a "buy" rating and set a $75.27 price target on shares of Cameco in a research note on Thursday, June 12th. UBS Group set a $102.00 price target on shares of Cameco in a research note on Tuesday, September 9th. Wall Street Zen cut shares of Cameco from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Scotiabank reiterated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $89.55.

Cameco Price Performance

Shares of NYSE:CCJ traded up $8.16 during trading on Monday, reaching $86.27. The company had a trading volume of 10,188,686 shares, compared to its average volume of 4,704,716. The company has a fifty day moving average of $76.43 and a two-hundred day moving average of $60.41. The stock has a market capitalization of $37.56 billion, a P/E ratio of 99.16 and a beta of 1.04. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $86.37. 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 issued its quarterly 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. The firm had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business's revenue for the quarter was up 46.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Equities research analysts forecast 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.