Canada Pension Plan Investment Board Has $83.64 Million Stock Holdings in Cameco Corporation $CCJ

Key Points

• The Canada Pension Plan Investment Board significantly increased its stake in Cameco Corporation by 215.7%, owning 2,031,332 shares worth approximately $83.6 million after acquiring 1,387,797 shares in the first quarter.
• There has been strong institutional interest in Cameco, as 70.21% of its stock is owned by institutional investors, with notable increases from firms like Manchester Capital Management and Dagco Inc.
• Analysts maintain a positive outlook with a consensus rating of "Buy" and a target price of $83.32, reflecting optimism about Cameco’s performance amid broader market trends.

Canada Pension Plan Investment Board lifted its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 215.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,031,332 shares of the basic materials company's stock after purchasing an additional 1,387,797 shares during the period. Canada Pension Plan Investment Board owned 0.47% of Cameco worth $83,636,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Wyoming raised its position in shares of Cameco by 1,386.6% during the first quarter. State of Wyoming now owns 8,548 shares of the basic materials company's stock valued at $352,000 after buying an additional 7,973 shares during the last quarter. Trexquant Investment LP raised its position in Cameco by 1,453.3% in the first quarter. Trexquant Investment LP now owns 248,575 shares of the basic materials company's stock worth $10,231,000 after purchasing an additional 232,572 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Cameco in the first quarter worth about $913,000. Lansforsakringar Fondforvaltning AB publ raised its position in Cameco by 2.1% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 96,196 shares of the basic materials company's stock worth $3,959,000 after purchasing an additional 1,988 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Cameco by 166.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 558,586 shares of the basic materials company's stock worth $22,992,000 after purchasing an additional 349,292 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Trading Down 1.1%

CCJ stock traded down $0.82 during midday trading on Thursday, reaching $76.35. The company's stock had a trading volume of 929,700 shares, compared to its average volume of 4,709,198. The business's 50-day simple moving average is $75.55 and its 200-day simple moving average is $58.34. The stock has a market cap of $33.24 billion, a PE ratio of 87.77 and a beta of 1.04. Cameco Corporation has a 52 week low of $35.00 and a 52 week 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.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results 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 company had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business's quarterly revenue was up 46.7% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. National Bankshares reissued an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. The Goldman Sachs Group raised their price objective on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Royal Bank Of Canada raised their price objective on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Finally, Glj Research reissued a "buy" rating and set a $75.27 price target on shares of Cameco in a research note on Thursday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. According to MarketBeat, Cameco presently has an average rating of "Buy" and an average 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.