Old West Investment Management LLC Has $12.15 Million Position in Cameco Corporation $CCJ

Key Points

• Old West Investment Management LLC increased its stake in Cameco Corporation by 2.0%, owning 295,250 shares worth approximately $12.15 million, accounting for about 4.4% of its portfolio.
• Cameco reported a significant year-over-year revenue increase of 46.7%, reaching $467.72 million, with earnings per share of $0.51 for its most recent quarter, exceeding analysts' expectations.
• Institutional investors currently own over 70% of Cameco's stock, with multiple firms recently boosting their stakes, reflecting growing interest in the company.

Old West Investment Management LLC raised its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 295,250 shares of the basic materials company's stock after purchasing an additional 5,671 shares during the period. Cameco comprises about 4.4% of Old West Investment Management LLC's portfolio, making the stock its 7th largest holding. Old West Investment Management LLC owned approximately 0.07% of Cameco worth $12,152,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its holdings in shares of Cameco by 100.0% during 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 period. Dagco Inc. bought a new position in shares of Cameco during the first quarter worth about $28,000. SVB Wealth LLC bought a new position in shares of Cameco during the first quarter worth about $29,000. Copia Wealth Management bought a new position in shares of Cameco during the fourth quarter worth about $39,000. Finally, Ameriflex Group Inc. bought a new position in shares of Cameco during the fourth quarter worth about $40,000. Institutional investors own 70.21% of the company's stock.

Cameco Stock Performance

CCJ stock opened at $74.8320 on Monday. The company has a market capitalization of $32.58 billion, a P/E ratio of 86.01 and a beta of 1.06. The company has a 50-day simple moving average of $74.49 and a 200 day simple moving average of $56.94. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $80.32. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15.

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

Analyst Ratings Changes

CCJ has been the subject of several recent research reports. Sanford C. Bernstein set a $70.00 price target on shares of Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a research report on Tuesday, August 5th. Royal Bank Of Canada upped their price target 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. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. Finally, Wall Street Zen raised shares of Cameco from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $83.32.

About Cameco

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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