Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment in Cameco Corporation $CCJ

Key Points

• Empirical Wealth Management acquired a new stake of 4,555 shares in Cameco Corporation (NYSE: CCJ) valued at approximately $338,000 during Q2, reflecting a growing interest from institutional investors in the uranium sector.
• Analysts have shown positive sentiment towards Cameco, with Wall Street Zen upgrading it from a "hold" to a "buy" rating, and several firms setting target prices significantly above its current shares.
• Cameco reported a notable 46.7% increase in year-over-year revenue for the quarter, achieving earnings per share of $0.51, which exceeded analysts' expectations.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,555 shares of the basic materials company's stock, valued at approximately $338,000.

Other institutional investors have also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in shares of Cameco in the 2nd quarter valued at $212,000. Hilltop National Bank bought a new stake in Cameco in the second quarter valued at about $30,000. Mirae Asset Global Investments Co. Ltd. raised its position in Cameco by 129.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,363 shares of the basic materials company's stock worth $10,345,000 after purchasing an additional 78,715 shares in the last quarter. BOCHK Asset Management Ltd bought a new position in Cameco during the second quarter worth about $787,000. Finally, Vigilare Wealth Management bought a new position in Cameco during the second quarter worth about $918,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Cameco from a "hold" rating to a "buy" rating in a report on Friday. CLSA initiated coverage on Cameco in a report on Tuesday, September 9th. They set an "outperform" rating and a $102.00 price objective for the company. National Bankshares restated an "outperform" rating on shares of Cameco in a research note on Friday, August 22nd. Glj Research reiterated a "buy" rating and set a $75.27 target price on shares of Cameco in a research report on Thursday, June 12th. Finally, Royal Bank Of Canada lifted their price target on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $89.55.

Cameco Stock Up 1.4%

Shares of NYSE CCJ opened at $85.39 on Tuesday. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $89.13. The firm's 50-day simple moving average is $78.83 and its 200 day simple moving average is $64.78. 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 company has a market cap of $37.18 billion, a price-to-earnings ratio of 98.15 and a beta of 0.99.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share 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 company had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The company's revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. On average, research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal 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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