Exchange Traded Concepts LLC Buys 134,422 Shares of Cameco Corporation $CCJ

Key Points

• Exchange Traded Concepts LLC increased its stake in Cameco Corporation by 35.4%, now owning a total of 514,510 shares valued at approximately $38.2 million.
• Cameco reported $0.51 EPS for the last quarter, exceeding expectations of $0.29, and achieved a revenue of $467.72 million, a growth of 46.7% year-over-year.
• Analysts maintain a generally positive outlook on Cameco, with a consensus rating of "Buy" and an average price target of $89.55.

Exchange Traded Concepts LLC increased its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 35.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 514,510 shares of the basic materials company's stock after purchasing an additional 134,422 shares during the period. Exchange Traded Concepts LLC owned approximately 0.12% of Cameco worth $38,192,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Manchester Capital Management LLC increased its stake in shares of Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Dagco Inc. acquired a new stake in Cameco during the first quarter worth approximately $28,000. SVB Wealth LLC acquired a new position in shares of Cameco in the 1st quarter valued at $29,000. Atticus Wealth Management LLC acquired a new position in shares of Cameco in the 2nd quarter valued at $34,000. Finally, Copia Wealth Management acquired a new position in shares of Cameco during the 4th quarter valued at $39,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on CCJ shares. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research report on Tuesday, September 2nd. CLSA initiated coverage on shares of Cameco in a report on Tuesday, September 9th. They issued an "outperform" rating and a $102.00 price objective on the stock. UBS Group set a $102.00 price objective on shares of Cameco in a report on Tuesday, September 9th. Royal Bank Of Canada upped their target price on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, BMO Capital Markets restated an "outperform" rating on shares of Cameco in a research note on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $89.55.

Cameco Stock Down 0.6%

Shares of NYSE:CCJ traded down $0.49 during trading on Monday, reaching $85.69. 3,651,004 shares of the company traded hands, compared to its average volume of 4,727,630. The firm has a fifty day simple moving average of $77.31 and a 200 day simple moving average of $61.55. The firm has a market cap of $37.31 billion, a P/E ratio of 98.47 and a beta of 1.04. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $87.15. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly 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 the consensus estimate of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. Cameco's revenue for the quarter was up 46.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

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.