Clarus Wealth Advisors Acquires New Stake in Cameco Corporation $CCJ

Key Points

• Clarus Wealth Advisors has acquired a new stake in Cameco Corporation, purchasing 3,424 shares valued at approximately $246,000 during the second quarter.
• Cameco recently reported earnings of $0.51 per share, surpassing analysts' expectations of $0.29, and its quarterly revenue was $467.72 million, up 46.7% year-over-year.
• Institutional investors hold 70.21% of Cameco’s stock, highlighting strong interest from hedge funds and investment firms in the company's performance.

Clarus Wealth Advisors acquired a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,424 shares of the basic materials company's stock, valued at approximately $246,000.

Other hedge funds have also made changes to their positions in the company. MetLife Investment Management LLC acquired a new position in shares of Cameco during the first quarter valued at approximately $2,131,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Cameco during the fourth quarter valued at approximately $839,000. Northwest & Ethical Investments L.P. increased its stake in shares of Cameco by 50.0% during the first quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company's stock valued at $1,750,000 after acquiring an additional 14,154 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in shares of Cameco by 41.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock valued at $1,663,000 after acquiring an additional 11,879 shares during the period. Finally, Nicholson Meyer Capital Management Inc. acquired a new position in Cameco in the first quarter worth approximately $350,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Performance

NYSE:CCJ opened at $86.27 on Tuesday. The company has a market cap of $37.56 billion, a price-to-earnings ratio of 99.16 and a beta of 1.04. The firm's 50-day moving average is $76.43 and its 200-day moving average is $60.41. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $86.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. The business 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 firm's revenue for the quarter was up 46.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CCJ. Sanford C. Bernstein set a $70.00 price target on shares of Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. The Goldman Sachs Group lifted their price target on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. Glj Research reiterated a "buy" rating and set a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $89.55.

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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