Cameco Corporation $CCJ Shares Purchased by Portland Investment Counsel Inc.

Key Points

• Portland Investment Counsel Inc. increased its holdings in Cameco Corporation by 33.3%, now owning 24,000 shares valuing approximately $988,000.
• Major institutional investors like Vanguard Group and Driehaus Capital Management have also increased their stakes in Cameco, leading to a total institutional ownership of 70.21%.
• Analysts have a consensus rating of "Buy" for Cameco, with price targets ranging from $70.00 to $110.00, indicating positive market outlook.

Portland Investment Counsel Inc. increased its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 33.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,000 shares of the basic materials company's stock after purchasing an additional 6,000 shares during the period. Cameco accounts for 0.3% of Portland Investment Counsel Inc.'s investment portfolio, making the stock its 24th largest holding. Portland Investment Counsel Inc.'s holdings in Cameco were worth $988,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Cameco by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company's stock worth $703,295,000 after acquiring an additional 300,088 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Cameco by 1.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company's stock valued at $865,729,000 after purchasing an additional 190,337 shares in the last quarter. AGF Management Ltd. increased its holdings in shares of Cameco by 19.0% in 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 in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Cameco by 20.6% in the 1st quarter. Ameriprise Financial Inc. now owns 3,048,732 shares of the basic materials company's stock valued at $125,533,000 after purchasing an additional 521,492 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in shares of Cameco by 120.2% in the 4th quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock valued at $115,398,000 after purchasing an additional 1,225,966 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CCJ. BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a report on Tuesday, August 5th. The Goldman Sachs Group increased their price target on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Sanford C. Bernstein set a $70.00 price target on shares of Cameco and gave the company an "outperform" rating in a report on Tuesday, June 10th. Royal Bank Of Canada increased their price target on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. Three equities research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $83.32.

Cameco Stock Performance

NYSE:CCJ opened at $71.41 on Friday. The firm has a 50 day simple moving average of $74.33 and a 200-day simple moving average of $56.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The firm has a market cap of $31.09 billion, a PE ratio of 82.08 and a beta of 1.06. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $80.32.

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 (EPS) for the quarter, beating 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 firm had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same period in the previous year, the firm earned $0.14 earnings per share. Cameco's revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. On average, equities analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Company 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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