Cameco Corporation $CCJ Shares Sold by Foundation Resource Management Inc.

Key Points

• Foundation Resource Management Inc. reduced its stake in Cameco Corporation by 52.7%, selling 290,945 shares and now holding 261,264 shares worth approximately $19.39 million.
• Analysts have given Cameco a consensus rating of Buy, with price targets ranging from $75.27 to $110.00, reflecting positive sentiment towards the company's future performance.
• Cameco recently reported an earnings per share (EPS) of $0.51 for the quarter, significantly exceeding the analyst expectation of $0.29, indicating robust growth with a revenue increase of 46.7% compared to the previous year.

Foundation Resource Management Inc. cut its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 52.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 261,264 shares of the basic materials company's stock after selling 290,945 shares during the quarter. Cameco accounts for 3.0% of Foundation Resource Management Inc.'s investment portfolio, making the stock its 12th largest position. Foundation Resource Management Inc. owned about 0.06% of Cameco worth $19,394,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Atticus Wealth Management LLC purchased a new stake in Cameco during the second quarter worth $34,000. Manchester Capital Management LLC raised its stake in shares of Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after buying an additional 300 shares in the last quarter. Dagco Inc. acquired a new position in shares of Cameco in the 1st quarter worth $28,000. SVB Wealth LLC purchased a new position in shares of Cameco during the first quarter valued at $29,000. Finally, Copia Wealth Management purchased a new position in Cameco in the fourth quarter valued at about $39,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Price Performance

Shares of CCJ traded down $0.03 during mid-day trading 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 firm has a market cap of $37.51 billion, a price-to-earnings ratio of 99.03 and a beta of 1.04. The business has a fifty day moving average of $77.53 and a 200 day moving average of $61.86. 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 12 month low of $35.00 and a 12 month high of $87.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $819.79 million. During the same period in the prior year, the business earned $0.14 EPS. The firm's quarterly revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. Equities analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CCJ shares. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research note on Tuesday, September 2nd. TD Securities reiterated a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. Glj Research restated a "buy" rating and set a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. Royal Bank Of Canada upped their price objective 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, Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. According to data from MarketBeat.com, Cameco presently has a consensus rating of "Buy" and a consensus 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.