Itau Unibanco Holding S.A. Acquires New Holdings in Cameco Corporation $CCJ

Key Points

• Itau Unibanco Holding S.A. acquired 22,182 shares of Cameco Corporation in the first quarter, valued at approximately $913,000.
• Institutional investors currently own 70.21% of Cameco's stock, with notable increases in holdings from firms like Vanguard and Ameriprise Financial.
• Cameco reported an earnings per share (EPS) of $0.51 for the last quarter, significantly exceeding analysts' expectations, and projected a rising EPS of $1.27 for the current fiscal year.

Itau Unibanco Holding S.A. bought a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 22,182 shares of the basic materials company's stock, valued at approximately $913,000.

A number of other large investors also recently modified their holdings of CCJ. Manchester Capital Management LLC lifted its holdings in shares of Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Dagco Inc. purchased a new stake in Cameco in the first quarter valued at approximately $28,000. SVB Wealth LLC acquired a new stake in shares of Cameco in the first quarter valued at approximately $29,000. Copia Wealth Management purchased a new position in shares of Cameco during the fourth quarter worth approximately $39,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Cameco during the fourth quarter worth approximately $40,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

Shares of CCJ traded down $1.09 during trading hours on Friday, reaching $77.54. The company had a trading volume of 6,982,094 shares, compared to its average volume of 3,843,250. The company has a market capitalization of $33.76 billion, a price-to-earnings ratio of 89.13 and a beta of 1.06. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $83.02. The firm has a 50 day simple moving average of $75.22 and a 200-day simple moving average of $57.88. 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 (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm's revenue for the quarter was up 46.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. Research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CCJ shares. TD Securities restated a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. Royal Bank Of Canada lifted their target price on Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. National Bankshares restated an "outperform" rating on shares of Cameco in a research note on Friday, August 22nd. The Goldman Sachs Group lifted their price objective on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Finally, Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Three analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $83.32.

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.