Cameco Corporation $CCJ Stake Lowered by Platinum Investment Management Ltd.

Key Points

• Platinum Investment Management Ltd. has reduced its stake in Cameco Corporation by 49.3%, now holding 1,002,144 shares, which makes up 4.9% of its portfolio.
• Cameco reported an EPS of $0.51 for the last quarter, exceeding analysts' expectations, although its revenue of $467.72 million fell short of the estimated $819.79 million.
• The company's stock has a consensus rating of "Buy" with an average target price of $89.55, according to multiple analysts who have recently reviewed the stock.

Platinum Investment Management Ltd. reduced its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 49.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,002,144 shares of the basic materials company's stock after selling 974,153 shares during the period. Cameco makes up 4.9% of Platinum Investment Management Ltd.'s portfolio, making the stock its 5th biggest position. Platinum Investment Management Ltd. owned approximately 0.23% of Cameco worth $74,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CCJ. Signaturefd LLC boosted its position in Cameco by 2.4% in the second quarter. Signaturefd LLC now owns 8,119 shares of the basic materials company's stock worth $603,000 after purchasing an additional 191 shares during the last quarter. Country Club Bank boosted its position in Cameco by 0.5% in the first quarter. Country Club Bank now owns 43,553 shares of the basic materials company's stock worth $1,822,000 after purchasing an additional 224 shares during the last quarter. Sunpointe LLC boosted its holdings in shares of Cameco by 1.8% in the first quarter. Sunpointe LLC now owns 16,281 shares of the basic materials company's stock worth $670,000 after buying an additional 288 shares during the last quarter. Manchester Capital Management LLC grew its position in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after buying an additional 300 shares during the period. Finally, MinichMacGregor Wealth Management LLC grew its position in Cameco by 5.0% during the first quarter. MinichMacGregor Wealth Management LLC now owns 6,372 shares of the basic materials company's stock valued at $262,000 after buying an additional 304 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Cameco Trading Down 0.5%

Shares of Cameco stock opened at $83.47 on Thursday. The company has a market capitalization of $36.34 billion, a P/E ratio of 95.94 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The company has a fifty day moving average of $78.52 and a 200 day moving average of $63.66. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $89.13.

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 firm had revenue of $467.72 million during 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 business's quarterly revenue was up 46.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CCJ shares. National Bankshares restated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. The Goldman Sachs Group boosted their price objective on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. TD Securities reissued a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. Glj Research reissued a "buy" rating and set a $75.27 price target on shares of Cameco in a report on Thursday, June 12th. 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 fourteen have issued a Buy rating to the company. According to MarketBeat.com, Cameco presently has a consensus rating of "Buy" and an average target price of $89.55.

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.

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