Fulton Bank N.A. Buys New Stake in Cameco Corporation $CCJ

Key Points

• Fulton Bank N.A. has acquired a new position in Cameco Corporation, purchasing 4,246 shares valued at approximately $315,000 during the second quarter.
• Cameco reported a 46.7% year-over-year increase in revenue, totaling $467.72 million for the quarter, along with an earnings per share (EPS) of $0.51, exceeding analyst expectations.
• Around 70.21% of Cameco's stock is owned by hedge funds and institutional investors, indicating strong institutional interest in the company.

Fulton Bank N.A. bought a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,246 shares of the basic materials company's stock, valued at approximately $315,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Manchester Capital Management LLC boosted its holdings in Cameco by 100.0% in the 1st 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. Dagco Inc. acquired a new position in Cameco in the 1st quarter valued at about $28,000. SVB Wealth LLC acquired a new position in Cameco in the 1st quarter valued at about $29,000. Atticus Wealth Management LLC acquired a new position in Cameco in the 2nd quarter valued at about $34,000. Finally, Copia Wealth Management acquired a new position in shares of Cameco in the 4th quarter worth approximately $39,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Down 0.2%

Shares of CCJ traded down $0.20 during midday trading on Tuesday, reaching $86.11. The stock had a trading volume of 2,715,676 shares, compared to its average volume of 4,729,841. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $88.45. The company's fifty day simple moving average is $77.53 and its two-hundred day simple moving average is $61.86. The company has a market cap of $37.49 billion, a price-to-earnings ratio of 99.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data 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 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 was up 46.7% on a year-over-year basis. During the same period last year, the business earned $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Equities research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Glj Research reiterated a "buy" rating and issued a $75.27 target price on shares of Cameco in a report on Thursday, June 12th. The Goldman Sachs Group lifted their price objective on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Scotiabank reissued an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. President Capital upgraded Cameco from a "neutral" rating to a "buy" rating in a report on Monday. Finally, TD Securities reiterated a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price 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.