Price T Rowe Associates Inc. MD Lowers Stock Holdings in Cameco Corporation $CCJ

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Cameco Corporation by 23.0%, selling over 804,000 shares, and now holds a total of 2.68 million shares valued at approximately $110 million.
• Several firms have issued positive ratings for Cameco, with Goldman Sachs increasing its price target from $65.00 to $78.00 and Royal Bank of Canada raising it to $110.00.
• Cameco reported an earnings per share of $0.51 for the last quarter, significantly beating the consensus estimate of $0.29, alongside a revenue increase of 46.7% year-over-year.

Price T Rowe Associates Inc. MD lowered its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 23.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,686,300 shares of the basic materials company's stock after selling 804,416 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.62% of Cameco worth $110,569,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Vanguard Capital Wealth Advisors bought a new position in Cameco during the fourth quarter valued at $839,000. Northwest & Ethical Investments L.P. lifted its position in Cameco by 50.0% during the first quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company's stock valued at $1,750,000 after purchasing an additional 14,154 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Cameco by 41.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock worth $1,663,000 after acquiring an additional 11,879 shares during the last quarter. Nicholson Meyer Capital Management Inc. bought a new stake in shares of Cameco in the 1st quarter worth about $350,000. Finally, Balefire LLC lifted its holdings in shares of Cameco by 42.9% in the 1st quarter. Balefire LLC now owns 33,601 shares of the basic materials company's stock worth $1,383,000 after acquiring an additional 10,081 shares during the last quarter. Institutional investors own 70.21% of the company's stock.

Cameco Stock Performance

Shares of Cameco stock traded down $1.09 during midday trading on Friday, hitting $77.54. The company had a trading volume of 6,982,094 shares, compared to its average volume of 3,843,250. The company has a fifty day simple moving average of $75.22 and a 200 day simple moving average of $57.76. The stock 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 quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. 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 posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping 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 business 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 posted $0.14 earnings per share. The business's revenue for the quarter was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Royal Bank Of Canada lifted their price target on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a research note on Tuesday, August 5th. The Goldman Sachs Group lifted 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. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Cameco in a research note on Friday, August 22nd. Three research analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target 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.