Mirae Asset Global Investments Co. Ltd. Grows Holdings in Cameco Corporation $CCJ

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly increased its stake in Cameco Corporation by 129.8% in the second quarter, holding 139,363 shares worth approximately $10.35 million.
• Cameco's most recent earnings report revealed earnings per share of $0.51, exceeding analyst expectations and marking a 46.7% increase in revenue year-over-year.
• Institutional investors now own about 70.21% of Cameco's stock, indicating strong support from major financial entities.

Mirae Asset Global Investments Co. Ltd. raised its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 129.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,363 shares of the basic materials company's stock after buying an additional 78,715 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Cameco were worth $10,345,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Manchester Capital Management LLC increased its stake 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 during the last quarter. Dagco Inc. purchased a new position in shares of Cameco in the 1st quarter worth about $28,000. SVB Wealth LLC bought a new position in shares of Cameco during the 1st quarter valued at about $29,000. Trust Co. of Vermont raised its holdings in shares of Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock valued at $29,000 after buying an additional 350 shares in the last quarter. Finally, Atticus Wealth Management LLC bought a new stake in Cameco in the 2nd quarter worth approximately $34,000. 70.21% of the stock is owned by institutional investors.

Cameco Price Performance

CCJ stock opened at $84.33 on Monday. The stock has a market capitalization of $36.72 billion, a price-to-earnings ratio of 96.93 and a beta of 0.99. The firm's 50-day moving average price is $78.70 and its two-hundred day moving average price is $64.50. 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 12-month low of $35.00 and a 12-month high of $89.13.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, topping 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 analyst estimates of $819.79 million. During the same period in the prior year, the business posted $0.14 earnings per share. Cameco's revenue for the quarter was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Glj Research reaffirmed a "buy" rating and set a $75.27 target price on shares of Cameco in a report on Thursday, June 12th. TD Securities reissued a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. 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 research note on Friday, August 1st. Finally, UBS Group set a $102.00 price objective on Cameco in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $89.55.

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.

Want to see what other hedge funds are holding CCJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.