Driehaus Capital Management LLC Sells 271,554 Shares of Cameco Corporation $CCJ

Key Points

• Driehaus Capital Management LLC reduced its stake in Cameco Corporation by 12.1% in Q1, now holding approximately 1.97 million shares, which constitutes about 0.8% of its total holdings.
• Several institutional investors, including the Canada Pension Plan Investment Board, significantly increased their holdings in Cameco, with CPP investing an additional $83.6 million to own over 2 million shares.
• Equity analysts have set a consensus price target of $83.32 for Cameco, with ratings ranging from "buy" to "outperform" from various financial institutions.

Driehaus Capital Management LLC cut its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 12.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,973,985 shares of the basic materials company's stock after selling 271,554 shares during the quarter. Cameco makes up approximately 0.8% of Driehaus Capital Management LLC's investment portfolio, making the stock its 27th largest holding. Driehaus Capital Management LLC owned about 0.45% of Cameco worth $81,249,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Canada Pension Plan Investment Board boosted its position in Cameco by 215.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock worth $83,636,000 after purchasing an additional 1,387,797 shares in the last quarter. State of Wyoming increased its position in shares of Cameco by 1,386.6% during the 1st quarter. State of Wyoming now owns 8,548 shares of the basic materials company's stock worth $352,000 after purchasing an additional 7,973 shares during the last quarter. Trexquant Investment LP grew its position in shares of Cameco by 1,453.3% during the first quarter. Trexquant Investment LP now owns 248,575 shares of the basic materials company's stock worth $10,231,000 after buying an additional 232,572 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Cameco during the first quarter worth approximately $913,000. Finally, Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of Cameco by 2.1% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 96,196 shares of the basic materials company's stock valued at $3,959,000 after acquiring an additional 1,988 shares during the period. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Performance

CCJ stock traded down $2.03 during trading on Tuesday, reaching $75.37. 4,477,927 shares of the company's stock were exchanged, compared to its average volume of 4,736,046. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $83.02. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The company's fifty day moving average price is $75.37 and its 200-day moving average price is $58.09. The firm has a market cap of $32.81 billion, a PE ratio of 86.63 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) 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%.Cameco's revenue for the quarter was up 46.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. On average, research analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CCJ shares. The Goldman Sachs Group increased their price objective on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. UBS Group restated a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a research report on Friday. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. Finally, National Bankshares restated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price 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.