Intech Investment Management LLC Acquires 87,545 Shares of Cameco Corporation $CCJ

Key Points

• Intech Investment Management LLC increased its stake in Cameco Corporation by 19.4%, owning 539,326 shares worth $22.2 million as of the latest SEC filing.
• Several hedge funds notably boosted their positions in Cameco in the fourth quarter, with Northern Trust Corp increasing its stake by 50.8%, now holding 367,299 shares valued at $18.9 million.
• Analysts are optimistic about Cameco, with ratings from firms such as Goldman Sachs raising the price target to $78 and a consensus rating of Buy with a target price of $87.05.

Intech Investment Management LLC lifted its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 19.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 539,326 shares of the basic materials company's stock after acquiring an additional 87,545 shares during the quarter. Intech Investment Management LLC owned approximately 0.12% of Cameco worth $22,199,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Manchester Capital Management LLC boosted its holdings 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 valued at $25,000 after acquiring an additional 300 shares in the last quarter. Dagco Inc. acquired a new stake in shares of Cameco during the 1st quarter valued at $28,000. SVB Wealth LLC acquired a new stake in shares of Cameco during the 1st quarter valued at $29,000. Copia Wealth Management acquired a new stake in shares of Cameco during the 4th quarter valued at $39,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Cameco during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Trading Down 2.3%

NYSE:CCJ traded down $1.82 during trading hours on Friday, hitting $78.07. 3,641,971 shares of the company were exchanged, compared to its average volume of 3,576,569. The stock has a market capitalization of $33.99 billion, a price-to-earnings ratio of 89.74 and a beta of 1.04. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. Cameco Corporation has a one year low of $35.00 and a one year high of $83.02. The company has a fifty day simple moving average of $76.21 and a 200 day simple moving average of $59.90.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its 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 during 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. Sell-side analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on CCJ. CLSA began coverage on Cameco in a report on Tuesday. They set an "outperform" rating and a $102.00 price objective on the stock. 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. The Goldman Sachs Group raised their target price on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. National Bankshares reaffirmed an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Finally, Glj Research reaffirmed a "buy" rating and set a $75.27 target price on shares of Cameco in a research report on Thursday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $89.55.

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.