Fred Alger Management LLC Sells 44,443 Shares of Cameco Corporation $CCJ

Key Points

• Fred Alger Management LLC reduced its shareholding in Cameco Corporation by 46.2%, now owning 51,723 shares valued at approximately $2.13 million.
• Several institutional investors have increased their stakes, with Manchester Capital Management lifting its position by 100% and new investments from multiple firms totaling around $29,000 to $40,000 each.
• Cameco's stock currently holds a consensus rating of "Buy" from analysts, with a price target range that includes a recent increase from $65.00 to $78.00 by Goldman Sachs.

Fred Alger Management LLC lessened its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 46.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,723 shares of the basic materials company's stock after selling 44,443 shares during the quarter. Fred Alger Management LLC's holdings in Cameco were worth $2,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CCJ. Manchester Capital Management LLC lifted its holdings in Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after buying an additional 300 shares during the period. Dagco Inc. bought a new stake in shares of Cameco during the 1st quarter valued at $28,000. SVB Wealth LLC purchased a new position in shares of Cameco during the 1st quarter valued at $29,000. Copia Wealth Management purchased a new stake in Cameco in the 4th quarter worth $39,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Cameco during the 4th quarter valued at about $40,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Performance

Shares of NYSE:CCJ traded down $1.82 on Friday, reaching $78.07. 3,641,971 shares of the company's stock were exchanged, compared to its average volume of 3,576,569. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $83.02. The business's 50-day moving average is $76.21 and its two-hundred day moving average is $59.90. The firm has a market capitalization of $33.99 billion, a price-to-earnings ratio of 89.74 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $819.79 million. During the same quarter last year, the firm posted $0.14 EPS. The business's revenue for the quarter was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Analysts Set New Price Targets

CCJ has been the topic of a number of research analyst reports. Scotiabank restated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. The Goldman Sachs Group raised their price target on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Wall Street Zen upgraded shares of Cameco from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Sanford C. Bernstein set a $70.00 target price on shares of Cameco and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Finally, Glj Research reaffirmed a "buy" rating and set a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Two analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $89.55.

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.