Ipswich Investment Management Co. Inc. Sells 6,175 Shares of Cameco Corporation $CCJ

Key Points

• Ipswich Investment Management Co. Inc. reduced its holdings in Cameco Corporation by 10.9%, selling 6,175 shares, leaving them with 50,434 shares valued at $3,744,000.
• Several institutional investors, including Alliancebernstein L.P. and Canada Pension Plan Investment Board, significantly increased their stakes in Cameco during the first quarter.
• Analysts have set a consensus price target for Cameco at $89.55 after multiple firms issued positive ratings, including Goldman Sachs raising its target from $65.00 to $78.00.

Ipswich Investment Management Co. Inc. lowered its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,434 shares of the basic materials company's stock after selling 6,175 shares during the quarter. Ipswich Investment Management Co. Inc.'s holdings in Cameco were worth $3,744,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CCJ. Alliancebernstein L.P. lifted its position in shares of Cameco by 39.3% during the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock valued at $578,226,000 after acquiring an additional 3,959,837 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Cameco by 215.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock valued at $83,636,000 after purchasing an additional 1,387,797 shares in the last quarter. Temasek Holdings Private Ltd bought a new position in Cameco in the first quarter worth approximately $55,513,000. Nuveen LLC purchased a new stake in shares of Cameco in the first quarter worth approximately $29,290,000. Finally, 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 acquiring an additional 644,413 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CCJ. 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. UBS Group set a $102.00 price objective on Cameco in a research note on Tuesday, September 9th. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, September 2nd. Wall Street Zen downgraded shares of Cameco from a "buy" rating to a "hold" rating in a report on Monday, September 15th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Cameco has an average rating of "Buy" and a consensus price target of $89.55.

Cameco Price Performance

Cameco stock opened at $85.52 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The company's 50 day moving average is $78.17 and its two-hundred day moving average is $62.79. The firm has a market cap of $37.23 billion, a PE ratio of 98.30 and a beta of 1.04. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $89.13.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business's revenue was up 46.7% on a year-over-year basis. During the same quarter last year, the business earned $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. On average, research analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal 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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