Cinctive Capital Management LP Invests $2.05 Million in Cameco Corporation $CCJ

Key Points

• Cinctive Capital Management LP invested approximately $2,051,000 in Cameco Corporation by acquiring 49,840 shares in the first quarter.
• Cameco has received varying analyst ratings, with two analysts giving a Strong Buy rating, while the stock currently holds an average rating of "Buy" with a consensus target price of $83.32.
• For its most recent quarter, Cameco reported an EPS of $0.51, exceeding estimates, while quarterly revenue increased by 46.7% year-over-year despite being below consensus expectations.

Cinctive Capital Management LP acquired a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 49,840 shares of the basic materials company's stock, valued at approximately $2,051,000.

Several other large investors also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of Cameco during the first quarter valued at approximately $187,000. Alliancebernstein L.P. increased its position in shares of Cameco by 39.3% in the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock worth $578,226,000 after acquiring an additional 3,959,837 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock valued at $393,000 after buying an additional 1,361 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its stake in Cameco by 10.2% during 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 acquiring an additional 228,148 shares in the last quarter. Finally, MAI Capital Management grew its stake in Cameco by 564.2% in the first quarter. MAI Capital Management now owns 2,504 shares of the basic materials company's stock valued at $103,000 after purchasing an additional 2,127 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Price Performance

CCJ traded down $0.46 during midday trading on Friday, reaching $75.85. 2,480,601 shares of the company's stock were exchanged, compared to its average volume of 3,585,882. 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 firm has a market capitalization of $33.02 billion, a price-to-earnings ratio of 87.18 and a beta of 1.04. Cameco Corporation has a one year low of $35.00 and a one year high of $83.02. The business has a 50-day simple moving average of $75.64 and a two-hundred day simple moving average of $58.90.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. The company had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business's revenue was up 46.7% on a year-over-year basis. During the same period last year, the business earned $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. As a group, research analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Cameco from a "hold" rating to a "buy" rating in a report on Sunday. The Goldman Sachs Group increased their target price on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research note on Tuesday, September 2nd. Finally, Glj Research reissued a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company's stock. According to MarketBeat.com, Cameco has an average rating of "Buy" and an average price target of $83.32.

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.