Gunderson Capital Management Inc. Buys Shares of 17,752 Cameco Corporation $CCJ

Key Points

• Gunderson Capital Management Inc. acquired 17,752 shares of Cameco Corporation (NYSE:CCJ) during Q2, valued at approximately $1.3 million, indicating strong institutional interest in the company.
• Analysts have a consensus rating of "Buy" for Cameco, with several firms upgrading their ratings recently and raising target prices, notably from $100 to $110 by Royal Bank of Canada.
• Cameco reported Q2 earnings of $0.51 EPS, beating estimates significantly, alongside a 46.7% increase in revenue compared to the previous year, reflecting robust growth in the uranium sector.

Gunderson Capital Management Inc. purchased a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,752 shares of the basic materials company's stock, valued at approximately $1,318,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC grew its stake in Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 300 shares in the last quarter. Dagco Inc. acquired a new position in shares of Cameco during the 1st quarter worth approximately $28,000. SVB Wealth LLC purchased a new stake in shares of Cameco in the first quarter valued at approximately $29,000. Trust Co. of Vermont increased its holdings in shares of Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 350 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in Cameco during the second quarter worth approximately $30,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCJ has been the subject of several analyst reports. Raymond James Financial restated an "outperform" rating on shares of Cameco in a report on Tuesday, September 2nd. Scotiabank restated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Royal Bank Of Canada boosted their target price on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a report on Friday, August 29th. Finally, Wall Street Zen upgraded Cameco from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $89.55.

Cameco Stock Up 0.7%

Shares of CCJ opened at $86.81 on Friday. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $89.13. The company's 50-day simple moving average is $79.40 and its 200-day simple moving average is $65.36. The stock has a market capitalization of $37.80 billion, a PE ratio of 99.78 and a beta of 0.99. 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 (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 (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. During the same period last year, the firm earned $0.14 earnings per share. The company's revenue for the quarter was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. Analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Company 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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