Focused Wealth Management Inc Takes Position in Cameco Corporation $CCJ

Key Points

• Focused Wealth Management Inc has acquired 3,348 shares of Cameco Corporation valued at approximately $249,000, during the second quarter.
• Cameco reported earnings of $0.51 per share for the last quarter, significantly beating analysts' expectations of $0.29 and marking a 46.7% increase in revenue compared to the same quarter last year.
• Hedge funds collectively own 70.21% of Cameco's stock, indicating strong institutional interest in the company.

Focused Wealth Management Inc acquired a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,348 shares of the basic materials company's stock, valued at approximately $249,000.

Several other hedge funds also recently added to or reduced their stakes in the business. MetLife Investment Management LLC acquired a new position in shares of Cameco in the 1st quarter valued at $2,131,000. Northwest & Ethical Investments L.P. increased its position in shares of Cameco by 50.0% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company's stock worth $1,750,000 after purchasing an additional 14,154 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in Cameco by 41.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock valued at $1,663,000 after buying an additional 11,879 shares during the period. Edmond DE Rothschild Holding S.A. lifted its position in Cameco by 74.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company's stock valued at $2,017,000 after buying an additional 20,947 shares during the last quarter. Finally, Nicholson Meyer Capital Management Inc. acquired a new position in Cameco in the first quarter valued at about $350,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Trading Down 0.0%

CCJ opened at $86.15 on Tuesday. 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 Corporation has a one year low of $35.00 and a one year high of $87.15. The company has a market cap of $37.51 billion, a P/E ratio of 99.03 and a beta of 1.04. The business's 50-day simple moving average is $77.53 and its 200-day simple moving average is $61.86.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on CCJ shares. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Glj Research reiterated a "buy" rating and issued a $75.27 target price on shares of Cameco in a report on Thursday, June 12th. UBS Group set a $102.00 target price on Cameco in a research report on Tuesday, September 9th. Royal Bank Of Canada raised their price target on Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $89.55.

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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