Hedges Asset Management LLC Buys Shares of 4,800 Cameco Corporation $CCJ

Key Points

• Hedges Asset Management LLC acquired a stake of 4,800 shares in Cameco Corporation for approximately $356,000 during the second quarter.
• Cameco's quarterly earnings report revealed an EPS of $0.51, exceeding analysts' expectations of $0.29, along with a revenue of $467.72 million.
• Analysts have a positive outlook on Cameco, with a consensus price target of $89.55 and multiple ratings indicating an "outperform" or "buy" sentiment.

Hedges Asset Management LLC bought a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,800 shares of the basic materials company's stock, valued at approximately $356,000.

Other hedge funds have also added to or reduced their stakes in the company. MetLife Investment Management LLC purchased a new position in Cameco during the 1st quarter valued at about $2,131,000. Vanguard Capital Wealth Advisors purchased a new stake in shares of Cameco in the 4th quarter valued at about $839,000. Northwest & Ethical Investments L.P. raised its holdings in shares of Cameco by 50.0% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company's stock valued at $1,750,000 after acquiring an additional 14,154 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Cameco by 41.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock valued at $1,663,000 after acquiring an additional 11,879 shares in the last quarter. Finally, Nicholson Meyer Capital Management Inc. purchased a new stake in shares of Cameco in the 1st quarter valued at about $350,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Price Performance

CCJ opened at $78.07 on Friday. The stock's 50 day simple moving average is $76.21 and its 200 day simple moving average is $60.00. 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 Corporation has a 1 year low of $35.00 and a 1 year high of $83.02. The firm has a market cap of $33.99 billion, a price-to-earnings ratio of 89.74 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly 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 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 analyst estimates of $819.79 million. During the same period last year, the company earned $0.14 EPS. Cameco'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. As a group, analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. National Bankshares reaffirmed an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. TD Securities reaffirmed a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. UBS Group set a $102.00 price target on Cameco in a report on Tuesday. Scotiabank reissued an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada raised their price objective on Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Cameco presently has an average 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.

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