Congress Asset Management Co. Acquires Shares of 69,491 Cameco Corporation $CCJ

Key Points

• Congress Asset Management Co. has acquired 69,491 shares of Cameco Corporation valued at approximately $5,158,000 during the second quarter.
• Cameco reported an EPS of $0.51 for its latest quarterly earnings, surpassing analyst expectations of $0.29, with a revenue of $467.72 million.
• Analyst sentiment toward Cameco remains positive, with two analysts rating the stock as Strong Buy and a consensus target price of $89.55.

Congress Asset Management Co. acquired a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 69,491 shares of the basic materials company's stock, valued at approximately $5,158,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CCJ. Atticus Wealth Management LLC acquired a new position in Cameco during the 2nd quarter valued at about $34,000. Manchester Capital Management LLC boosted its position in shares of Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after buying an additional 300 shares during the last quarter. Dagco Inc. purchased a new position in shares of Cameco during the first quarter valued at approximately $28,000. SVB Wealth LLC bought a new stake in Cameco during the first quarter worth $29,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Cameco by 1,798.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,215 shares of the basic materials company's stock valued at $50,000 after buying an additional 1,151 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Performance

Shares of CCJ opened at $85.52 on Friday. The firm has a market cap of $37.23 billion, a PE ratio of 98.30 and a beta of 1.04. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $89.13. 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 fifty day moving average price is $78.17 and its two-hundred day moving average price is $62.93.

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. The firm had revenue of $467.72 million during the quarter, compared to analyst estimates of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business's revenue for the quarter was up 46.7% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. UBS Group set a $102.00 price target on shares of Cameco in a report on Tuesday, September 9th. BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a research note on Friday, August 29th. Royal Bank Of Canada lifted their target price on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Wall Street Zen lowered Cameco from a "buy" rating to a "hold" rating in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price 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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