Cameco Corporation (NYSE:CCJ) Position Raised by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd increased its stake in Cameco Corporation by 259.4%, owning 40,253 shares valued at approximately $1,657,000.
• Several hedge funds, including Franklin Resources Inc. and Geode Capital Management LLC, have also raised their stakes in Cameco, with 70.21% of the stock currently owned by institutional investors.
• Wall Street analysts have given Cameco a consensus rating of "Buy" with an average target price of $82.65, reflecting strong market confidence in the stock's performance.

Maxi Investments CY Ltd raised its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 259.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 40,253 shares of the basic materials company's stock after buying an additional 29,053 shares during the quarter. Maxi Investments CY Ltd's holdings in Cameco were worth $1,657,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CCJ. O Shaughnessy Asset Management LLC raised its stake in shares of Cameco by 19.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,781 shares of the basic materials company's stock valued at $708,000 after purchasing an additional 2,226 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Cameco by 37.1% during the fourth quarter. Franklin Resources Inc. now owns 171,612 shares of the basic materials company's stock valued at $8,814,000 after purchasing an additional 46,440 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cameco by 31.8% during the fourth quarter. Geode Capital Management LLC now owns 2,518,655 shares of the basic materials company's stock valued at $130,550,000 after purchasing an additional 607,041 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Cameco during the fourth quarter valued at about $822,000. Finally, Arete Wealth Advisors LLC bought a new stake in shares of Cameco during the fourth quarter valued at about $311,000. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday. Scotiabank restated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. The Goldman Sachs Group lifted their price objective 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. Glj Research restated a "buy" rating and set a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Finally, Raymond James Financial restated an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. Ten equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $82.65.

Cameco Price Performance

Shares of Cameco stock opened at $75.21 on Tuesday. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $70.40 and its two-hundred day moving average price is $54.41. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $80.32. The stock has a market cap of $32.75 billion, a PE ratio of 86.45 and a beta of 1.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results 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 firm had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. During the same period in the previous year, the business earned $0.14 earnings per share. Cameco's revenue for the quarter was up 46.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal 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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