Cameco Corporation $CCJ Shares Acquired by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Cameco Corporation by 166.9% during the first quarter, owning approximately $22.99 million worth of shares.
• Institutional investors collectively own 70.21% of Cameco's stock, with several firms significantly increasing their positions, indicating strong market confidence.
• Analysts have issued a consensus rating of “Buy” for Cameco, with a target price averaging $83.32, reflecting positive expectations for the company’s performance.

Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 166.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 558,586 shares of the basic materials company's stock after purchasing an additional 349,292 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.13% of Cameco worth $22,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC boosted its holdings in Cameco by 120.2% in the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock worth $115,398,000 after acquiring an additional 1,225,966 shares in the last quarter. Nuveen LLC acquired a new stake in Cameco in the first quarter worth about $29,290,000. AGF Management Ltd. boosted its holdings in Cameco by 19.0% in the first quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock worth $166,206,000 after acquiring an additional 644,413 shares in the last quarter. Covea Finance boosted its holdings in Cameco by 52.8% in the first quarter. Covea Finance now owns 1,665,979 shares of the basic materials company's stock worth $68,572,000 after acquiring an additional 575,393 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Cameco by 20.6% in the first quarter. Ameriprise Financial Inc. now owns 3,048,732 shares of the basic materials company's stock worth $125,533,000 after acquiring an additional 521,492 shares in the last quarter. Institutional investors own 70.21% of the company's stock.

Analysts Set New Price Targets

CCJ has been the subject of several recent analyst reports. Glj Research reissued a "buy" rating and issued a $75.27 price target on shares of Cameco in a report on Thursday, June 12th. TD Securities reaffirmed a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. UBS Group reaffirmed a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. Finally, The Goldman Sachs Group lifted their target price on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Three analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company's stock. Based on data from MarketBeat, Cameco currently has a consensus rating of "Buy" and an average target price of $83.32.

Cameco Price Performance

Shares of CCJ traded down $1.09 during trading hours on Friday, hitting $77.54. 6,982,094 shares of the stock were exchanged, compared to its average volume of 3,843,250. The stock's 50-day moving average price is $75.22 and its two-hundred day moving average price is $57.81. The company has a market cap of $33.76 billion, a price-to-earnings ratio of 89.13 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 12-month low of $35.00 and a 12-month high of $83.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The firm's revenue for the quarter was up 46.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. Research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current 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.