HBW Advisory Services LLC Acquires Shares of 4,149 Cameco Corporation $CCJ

Key Points

• HBW Advisory Services LLC acquired 4,149 shares of Cameco Corporation, valued at approximately $308,000, during the second quarter of 2023.
• Several institutional investors, including Vanguard Group and Alliancebernstein, have increased their holdings in Cameco, indicating strong interest in the stock.
• Wall Street analysts show confidence in Cameco's growth, with a consensus target price of $89.55 and a majority rating of "Buy" or "Outperform" from various firms.

HBW Advisory Services LLC purchased a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,149 shares of the basic materials company's stock, valued at approximately $308,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Cameco by 1.8% during the first quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company's stock valued at $703,295,000 after buying an additional 300,088 shares during the period. Alliancebernstein L.P. increased its position in shares of Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock valued at $578,226,000 after buying an additional 3,959,837 shares during the period. AGF Management Ltd. increased its position in shares of Cameco by 19.0% during the first quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock valued at $166,206,000 after buying an additional 644,413 shares during the period. Ameriprise Financial Inc. increased its position in shares of Cameco by 20.6% during the first quarter. Ameriprise Financial Inc. now owns 3,048,732 shares of the basic materials company's stock valued at $125,533,000 after buying an additional 521,492 shares during the period. Finally, Federation des caisses Desjardins du Quebec increased its position in shares of Cameco by 10.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 2,461,263 shares of the basic materials company's stock valued at $101,154,000 after buying an additional 228,148 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research report on Tuesday, September 2nd. Glj Research restated a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. UBS Group set a $102.00 price objective on shares of Cameco in a research report on Tuesday, September 9th. TD Securities restated a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. Finally, Scotiabank restated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $89.55.

Cameco Stock Performance

NYSE:CCJ opened at $78.07 on Monday. The firm has a market cap of $33.99 billion, a PE ratio of 89.74 and a beta of 1.04. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $83.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The business has a 50 day moving average price of $76.21 and a 200-day moving average price of $60.12.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released 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 firm had revenue of $467.72 million during the quarter, compared to analyst estimates of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business's quarterly revenue was up 46.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. Equities research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

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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