Freedom Investment Management Inc. Has $1.15 Million Stock Position in Cameco Corporation $CCJ

Key Points

• Freedom Investment Management Inc. has increased its stake in Cameco Corporation by 85.2% during the second quarter, holding shares valued at $1.15 million after purchasing additional shares.
• A significant majority of Cameco's stock, about 70.21%, is owned by institutional investors and hedge funds, indicating strong interest in the company.
• Equities research analysts have issued positive ratings for Cameco, with an average target price of $89.55, emphasizing a consensus "Buy" outlook.

Freedom Investment Management Inc. increased its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 85.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,551 shares of the basic materials company's stock after purchasing an additional 7,153 shares during the quarter. Freedom Investment Management Inc.'s holdings in Cameco were worth $1,154,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Manchester Capital Management LLC increased its position 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 shares of Cameco during the 1st quarter worth about $28,000. SVB Wealth LLC acquired a new stake in shares of Cameco during the 1st quarter worth about $29,000. Trust Co. of Vermont increased its position in shares of Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock worth $29,000 after purchasing an additional 350 shares in the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Cameco during the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cameco in a research report on Wednesday, October 8th. President Capital raised shares of Cameco from a "neutral" rating to a "buy" rating in a report on Monday, September 22nd. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a report on Friday, October 10th. Wall Street Zen raised shares of Cameco from a "hold" rating to a "buy" rating in a report on Sunday, October 19th. Finally, UBS Group set a $102.00 price objective on shares of Cameco in a report on Tuesday, September 9th. 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $89.55.

Cameco Stock Up 3.2%

Shares of NYSE:CCJ opened at $86.23 on Friday. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $97.79. The company's 50-day moving average price is $81.83 and its two-hundred day moving average price is $68.59. 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 firm has a market cap of $37.54 billion, a P/E ratio of 99.11 and a beta of 0.99.

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, beating the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company'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. As a group, research analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

About Cameco

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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