Korea Investment CORP Raises Holdings in Cameco Corporation $CCJ

Key Points

• Korea Investment CORP increased its stake in Cameco Corporation by 151% in Q1, acquiring an additional 435,681 shares, bringing its total to 724,303 shares valued at approximately $29.8 million.
• Despite the increased institutional investment, Cameco's stock declined by 4.0%, with a market cap of $32.11 billion, a 12-month peak of $80.32 and a recent trading price around $73.74.
• Analysts maintain a consensus rating of "Buy" for Cameco, with several firms raising their price targets, suggesting confidence in the company's future performance.

Korea Investment CORP lifted its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 151.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 724,303 shares of the basic materials company's stock after buying an additional 435,681 shares during the period. Korea Investment CORP owned approximately 0.17% of Cameco worth $29,813,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Manchester Capital Management LLC boosted its stake in shares of Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after buying an additional 300 shares during the period. Dagco Inc. acquired a new stake in shares of Cameco during the first quarter worth about $28,000. Copia Wealth Management acquired a new stake in shares of Cameco during the fourth quarter worth about $39,000. Ameriflex Group Inc. acquired a new stake in shares of Cameco during the fourth quarter worth about $40,000. Finally, CoreCap Advisors LLC boosted its stake in shares of Cameco by 8,363.6% during the fourth quarter. CoreCap Advisors LLC now owns 931 shares of the basic materials company's stock worth $48,000 after buying an additional 920 shares during the period. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Price Performance

Cameco stock traded up $3.4020 during mid-day trading on Friday, reaching $74.8320. The company had a trading volume of 4,582,504 shares, compared to its average volume of 4,769,801. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $80.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The company has a market capitalization of $32.58 billion, a P/E ratio of 86.01 and a beta of 1.06. The stock's 50-day simple moving average is $74.33 and its 200-day simple moving average is $56.67.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. During the same period last year, the company posted $0.14 earnings per share. The firm's quarterly revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. On average, equities analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CCJ. Royal Bank Of Canada increased their target price on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. 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 restated a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Finally, The Goldman Sachs Group raised 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. Three equities research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price 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.