Mitsubishi UFJ Asset Management UK Ltd. Takes $520,000 Position in Cameco Corporation $CCJ

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. has acquired a new stake in Cameco Corporation, purchasing 7,000 shares valued at approximately $520,000.
• Multiple hedge funds significantly increased their stakes in Cameco during the second quarter, with Union Bancaire Privee UBP SA raising its holding by 114.0% and Chicago Capital LLC lifting theirs by 140.0%.
• Analysts maintain an overall positive outlook on Cameco, with a consensus rating of "Buy" and an average price target of $89.55 from various research firms.

Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,000 shares of the basic materials company's stock, valued at approximately $520,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCJ. Union Bancaire Privee UBP SA increased its stake in Cameco by 114.0% during the second quarter. Union Bancaire Privee UBP SA now owns 17,404 shares of the basic materials company's stock valued at $1,292,000 after purchasing an additional 9,270 shares during the last quarter. Chicago Capital LLC lifted its holdings in Cameco by 140.0% in the second quarter. Chicago Capital LLC now owns 41,051 shares of the basic materials company's stock worth $3,047,000 after purchasing an additional 23,945 shares during the period. Trivium Point Advisory LLC lifted its holdings in Cameco by 23.6% in the second quarter. Trivium Point Advisory LLC now owns 93,812 shares of the basic materials company's stock worth $6,964,000 after purchasing an additional 17,883 shares during the period. Lee Johnson Capital Management LLC acquired a new stake in Cameco in the second quarter worth about $790,000. Finally, Janney Montgomery Scott LLC lifted its holdings in Cameco by 2.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 75,284 shares of the basic materials company's stock valued at $5,588,000 after acquiring an additional 1,796 shares during the last quarter. Institutional investors own 70.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CCJ. Glj Research restated a "buy" rating and set a $75.27 price objective on shares of Cameco in a report on Thursday, June 12th. CLSA assumed coverage on Cameco in a report on Tuesday, September 9th. They issued an "outperform" rating and a $102.00 target price on the stock. Sanford C. Bernstein set a $70.00 price target on Cameco and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Scotiabank reiterated an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Finally, National Bankshares reiterated an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. Based on data from MarketBeat.com, Cameco presently has a consensus rating of "Buy" and an average target price of $89.55.

Cameco Trading Down 0.6%

NYSE:CCJ opened at $83.97 on Wednesday. The stock has a market capitalization of $36.56 billion, a PE ratio of 96.52 and a beta of 1.04. The business's 50-day simple moving average is $78.44 and its 200-day simple moving average is $63.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two 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, beating the consensus estimate of $0.29 by $0.22. The firm had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business's quarterly revenue was up 46.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share 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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