NewEdge Advisors LLC Purchases 40,476 Shares of Cameco Corporation $CCJ

Key Points

• NewEdge Advisors LLC increased its stake in Cameco Corporation by 35.0%, acquiring 40,476 shares and bringing its total holdings to 156,055 shares, valued at approximately $5.88 million.
• Analysts have raised their ratings on Cameco stock, with Wall Street Zen upgrading it from "hold" to "buy" and Royal Bank of Canada increasing their price target from $100.00 to $110.00.
• Cameco's most recent quarterly earnings report beat consensus estimates, showing earnings per share of $0.51 compared to an estimated $0.29, with a revenue increase of 46.7% year-over-year.

NewEdge Advisors LLC increased its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 35.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 156,055 shares of the basic materials company's stock after buying an additional 40,476 shares during the quarter. NewEdge Advisors LLC's holdings in Cameco were worth $5,881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CCJ. Manchester Capital Management LLC lifted its position in shares of Cameco by 100.0% during the 1st 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 last quarter. Dagco Inc. bought a new stake in shares of Cameco during the 1st quarter worth $28,000. SVB Wealth LLC bought a new stake in shares of Cameco during the 1st quarter worth $29,000. Copia Wealth Management bought a new stake in shares of Cameco during the 4th quarter worth $39,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Cameco during the 4th quarter worth $40,000. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CCJ has been the subject of several recent analyst reports. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research report on Tuesday, September 2nd. Glj Research reaffirmed a "buy" rating and issued a $75.27 target price on shares of Cameco in a report on Thursday, June 12th. Royal Bank Of Canada upped their target price on Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. CLSA began coverage on Cameco in a report on Tuesday. They issued an "outperform" rating and a $102.00 target price for the company. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $89.55.

Cameco Trading Down 2.3%

NYSE CCJ traded down $1.82 during trading hours on Friday, hitting $78.07. 3,641,971 shares of the company's stock were exchanged, compared to its average volume of 3,576,569. The stock has a 50-day simple moving average of $76.21 and a 200 day simple moving average of $59.90. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $83.02. The firm has a market cap of $33.99 billion, a price-to-earnings ratio of 89.74 and a beta of 1.04. 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 released its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping 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 business had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. During the same quarter last year, the firm posted $0.14 earnings per share. The firm's revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Cameco Corporation will post 1.27 EPS 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.