Meitav Investment House Ltd. Raises Stock Position in Cameco Corporation $CCJ

Key Points

• Meitav Investment House Ltd. increased its stake in Cameco Corporation ($CCJ) by 58.0%, amassing a total of 13,679 shares valued at approximately $1,015,000.
• Several analysts have upgraded Cameco's stock ratings, with the most notable being Goldman Sachs, which raised its price target from $65.00 to $78.00, indicating a positive outlook for the company's performance.
• Cameco reported $0.51 earnings per share for the last quarter, exceeding expectations by $0.22, highlighting a 46.7% increase in revenue compared to the same quarter last year.

Meitav Investment House Ltd. increased its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 58.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,679 shares of the basic materials company's stock after purchasing an additional 5,022 shares during the period. Meitav Investment House Ltd.'s holdings in Cameco were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CCJ. Trust Co. of Vermont boosted its position in shares of Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock worth $29,000 after buying an additional 350 shares during the period. Hilltop National Bank purchased a new position in Cameco in the 2nd quarter worth approximately $30,000. Atticus Wealth Management LLC purchased a new position in Cameco in the 2nd quarter worth approximately $34,000. Manchester Capital Management LLC grew its position in Cameco by 100.0% in the first 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. Finally, Dagco Inc. purchased a new stake in shares of Cameco during the first quarter valued at approximately $28,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Cameco from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Scotiabank reissued an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. Glj Research reissued a "buy" rating and issued a $75.27 price target on shares of Cameco in a report on Thursday, June 12th. Finally, The Goldman Sachs Group raised 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $89.55.

Cameco Stock Performance

Shares of CCJ stock opened at $86.63 on Wednesday. The stock has a market capitalization of $37.72 billion, a price-to-earnings ratio of 99.57 and a beta of 0.99. Cameco Corporation has a one year low of $35.00 and a one year high of $89.13. The company's 50-day simple moving average is $78.99 and its 200-day simple moving average is $64.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. 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. Equities analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

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.

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