Canandaigua National Bank & Trust Co. Acquires New Position in Cameco Corporation $CCJ

Key Points

• Canandaigua National Bank & Trust Co. acquired a new stake in Cameco Corporation during Q2, purchasing 4,009 shares valued at approximately $298,000.
• Cameco's stock has seen a decline of 7.0%, currently trading at $80.25, although it has a market cap of $34.94 billion and promising growth with a one-year revenue increase of 46.7%.
• Research firms have largely rated Cameco positively, with a consensus rating of "Buy" and an average price target of $89.55.

Canandaigua National Bank & Trust Co. purchased a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,009 shares of the basic materials company's stock, valued at approximately $298,000.

Other large investors also recently bought and sold shares of the company. Country Club Bank grew its stake in shares of 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 acquiring an additional 224 shares during the period. Two Sigma Investments LP grew its stake in shares of Cameco by 0.5% in the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company's stock worth $2,592,000 after acquiring an additional 238 shares during the period. Sunpointe LLC grew its stake 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 acquiring an additional 288 shares during the period. Highview Capital Management LLC DE grew its stake in shares of Cameco by 5.0% in the fourth quarter. Highview Capital Management LLC DE now owns 6,246 shares of the basic materials company's stock worth $321,000 after acquiring an additional 300 shares during the period. Finally, Manchester Capital Management LLC grew its stake in shares of Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after acquiring an additional 300 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CCJ. UBS Group set a $102.00 price target on shares of Cameco in a research note on Tuesday, September 9th. Scotiabank restated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. TD Securities restated a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. Finally, CLSA began coverage on shares of Cameco in a research report on Tuesday, September 9th. They set an "outperform" rating and a $102.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $89.55.

Cameco Trading Up 4.5%

Shares of CCJ traded up $3.69 during midday trading on Friday, hitting $86.30. The stock had a trading volume of 7,970,267 shares, compared to its average volume of 4,046,154. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $86.84. The firm has a market cap of $37.57 billion, a PE ratio of 99.20 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The stock's 50 day moving average is $77.31 and its 200 day moving average is $61.42.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping analysts' consensus estimates 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 prior year, the business posted $0.14 earnings per share. The business's revenue for the quarter was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. As a group, analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

About Cameco

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.