Permanens Capital L.P. Has $2.88 Million Stock Holdings in Cameco Corporation $CCJ

Key Points

• Permanens Capital L.P. reduced its stake in Cameco Corporation by 57.9%, selling 96,090 shares and maintaining 69,936 shares, now valued at approximately $2.88 million.
• Cameco reported $0.51 earnings per share (EPS) for the last quarter, exceeding expectations, while revenue of $467.72 million fell short of forecasts of $819.79 million.
• Analysts maintain a positive outlook on Cameco, with many firms issuing ratings of "Buy" or "Outperform" and an average price target of $83.32.

Permanens Capital L.P. lessened its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 57.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,936 shares of the basic materials company's stock after selling 96,090 shares during the period. Cameco makes up 0.5% of Permanens Capital L.P.'s portfolio, making the stock its 21st biggest position. Permanens Capital L.P.'s holdings in Cameco were worth $2,879,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Cameco by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company's stock worth $703,295,000 after buying an additional 300,088 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Cameco by 1.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company's stock valued at $865,729,000 after acquiring an additional 190,337 shares during the period. Alliancebernstein L.P. raised its stake in Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock worth $578,226,000 after acquiring an additional 3,959,837 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of Cameco by 19.0% during the first quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock valued at $166,206,000 after acquiring an additional 644,413 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Cameco by 20.6% in the 1st quarter. Ameriprise Financial Inc. now owns 3,048,732 shares of the basic materials company's stock valued at $125,533,000 after purchasing an additional 521,492 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Trading Up 0.6%

Shares of NYSE CCJ traded up $0.47 during midday trading on Thursday, hitting $79.94. The stock had a trading volume of 3,697,900 shares, compared to its average volume of 4,676,833. The firm has a market cap of $34.81 billion, a P/E ratio of 91.89 and a beta of 1.04. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $83.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The company's 50-day simple moving average is $75.97 and its 200 day simple moving average is $59.41.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $819.79 million. During the same quarter last year, the business earned $0.14 earnings per share. The firm's quarterly revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. Research analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCJ. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a report on Tuesday, September 2nd. Royal Bank Of Canada lifted their price objective on Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a report on Friday, August 29th. National Bankshares restated an "outperform" rating on shares of Cameco in a research note on Friday, August 22nd. Finally, The Goldman Sachs Group upped their price target 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. Two analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $89.55.

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.