Cameco Corporation $CCJ Stock Holdings Increased by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Cameco Corporation by 50% during the first quarter, acquiring an additional 14,154 shares, bringing its total holdings to 42,487 shares valued at approximately $1,750,000.
• Several hedge funds also significantly boosted their positions in Cameco, with American Century Companies Inc. increasing its holdings by a staggering 965.3%, now owning 454,299 shares valued at $18,699,000.
• Wall Street analysts remain optimistic about Cameco's stock, with a consensus rating of "Buy" and a target price of $82.65, reflecting confidence in the company's performance amid rising uranium demand.

Northwest & Ethical Investments L.P. increased its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 50.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,487 shares of the basic materials company's stock after buying an additional 14,154 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Cameco were worth $1,750,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CCJ. Manchester Capital Management LLC increased its position in 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 purchasing an additional 300 shares during the last quarter. Dagco Inc. acquired a new position in Cameco during the first quarter worth approximately $28,000. Copia Wealth Management acquired a new position in Cameco during the fourth quarter worth approximately $39,000. Ameriflex Group Inc. acquired a new position in Cameco during the fourth quarter worth approximately $40,000. Finally, CoreCap Advisors LLC increased its position in 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 purchasing an additional 920 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Down 4.0%

NYSE CCJ traded down $3.0760 during trading hours on Tuesday, reaching $73.7440. 4,157,467 shares of the company traded hands, compared to its average volume of 4,120,753. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $80.32. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $32.11 billion, a PE ratio of 84.76 and a beta of 1.06. The company has a 50 day moving average of $74.14 and a two-hundred day moving average of $56.40.

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 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 for the quarter, compared to analysts' expectations of $819.79 million. During the same period in the prior year, the company earned $0.14 earnings per share. The firm's revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CCJ shares. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. The Goldman Sachs Group increased their price objective on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. BMO Capital Markets reissued an "outperform" rating on shares of Cameco in a research report on Tuesday, August 5th. Royal Bank Of Canada increased their price objective on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. Three investment analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $83.32.

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.