Financial Enhancement Group LLC Invests $2.64 Million in Cameco Corporation $CCJ

Key Points

• Financial Enhancement Group LLC made a $2.64 million investment in Cameco Corporation by acquiring 36,282 shares during the second quarter.
• Cameco reported a 46.7% increase in quarterly revenue year-over-year, reaching $467.72 million, along with earnings per share of $0.51, surpassing analyst estimates.
• Analysts have a generally positive outlook on Cameco, with an average price target of $89.55 and multiple firms rating the stock as "outperform."

Financial Enhancement Group LLC acquired a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 36,282 shares of the basic materials company's stock, valued at approximately $2,638,000.

Several other large investors have also recently added to or reduced their stakes in the business. Country Club Bank raised its stake in shares of Cameco by 0.5% in the 1st quarter. Country Club Bank now owns 43,553 shares of the basic materials company's stock worth $1,822,000 after buying an additional 224 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Cameco by 0.5% during the 4th quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company's stock valued at $2,592,000 after purchasing an additional 238 shares in the last quarter. Sunpointe LLC raised its holdings in shares of Cameco by 1.8% in the 1st quarter. Sunpointe LLC now owns 16,281 shares of the basic materials company's stock worth $670,000 after purchasing an additional 288 shares in the last quarter. Manchester Capital Management LLC lifted its stake in 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 purchasing an additional 300 shares during the last quarter. Finally, MinichMacGregor Wealth Management LLC boosted its holdings in Cameco by 5.0% during the first quarter. MinichMacGregor Wealth Management LLC now owns 6,372 shares of the basic materials company's stock worth $262,000 after buying an additional 304 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCJ has been the topic of a number of recent research reports. UBS Group set a $102.00 target price on Cameco in a report on Tuesday, September 9th. Scotiabank restated an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Glj Research reaffirmed a "buy" rating and set a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Royal Bank Of Canada boosted 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. Finally, Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $89.55.

Cameco Stock Down 0.0%

NYSE CCJ traded down $0.03 on Monday, reaching $86.15. The stock had a trading volume of 6,018,880 shares, compared to its average volume of 4,216,081. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $87.15. The business has a 50 day moving average price of $77.53 and a 200 day moving average price of $61.86. The company has a market capitalization of $37.51 billion, a price-to-earnings ratio of 99.03 and a beta of 1.04.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same period last year, the business earned $0.14 EPS. The business's quarterly revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. On average, analysts forecast that Cameco Corporation will post 1.27 EPS 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.