Castleview Partners LLC Buys Shares of 4,568 Cameco Corporation $CCJ

Key Points

• Castleview Partners LLC acquired 4,568 shares of Cameco Corporation, valued at approximately $339,000, as part of its 2nd quarter investment strategy.
• Analysts predict positive growth for Cameco, with Goldman Sachs raising its target price from $65.00 to $78.00 and maintaining a "buy" rating.
• Cameco reported a remarkable 46.7% year-over-year revenue increase for the recent quarter, despite a significant earnings beat on EPS compared to analysts' expectations.

Castleview Partners LLC bought a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,568 shares of the basic materials company's stock, valued at approximately $339,000.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Cameco by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company's stock valued at $703,295,000 after buying an additional 300,088 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Cameco by 39.3% in the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock valued at $578,226,000 after buying an additional 3,959,837 shares in the last quarter. AGF Management Ltd. grew its holdings in Cameco by 19.0% in the 1st quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock valued at $166,206,000 after buying an additional 644,413 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Cameco by 20.6% in the 1st quarter. Ameriprise Financial Inc. now owns 3,048,732 shares of the basic materials company's stock valued at $125,533,000 after buying an additional 521,492 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its holdings in Cameco by 10.2% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 2,461,263 shares of the basic materials company's stock valued at $101,154,000 after buying an additional 228,148 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Scotiabank reiterated an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. TD Securities reiterated a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. National Bankshares reiterated an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. Finally, Royal Bank Of Canada increased their price target on Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $89.55.

Cameco Stock Performance

Shares of Cameco stock opened at $83.08 on Thursday. The business has a 50-day moving average of $77.89 and a 200 day moving average of $62.18. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $89.13. The stock has a market capitalization of $36.17 billion, a price-to-earnings ratio of 95.49 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.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. During the same period last year, the business posted $0.14 EPS. Cameco'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, sell-side analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

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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