Plato Investment Management Ltd Has $757,000 Holdings in Cameco Corporation $CCJ

Key Points

• Plato Investment Management Ltd significantly increased its stake in Cameco Corporation, acquiring an additional 11,229 shares, raising its total holdings by 161.1% to 18,201 shares valued at approximately $757,000.
• Cameco reported earnings of $0.51 per share for the latest quarter, exceeding analyst estimates by $0.22, while its revenue increased by 46.7% year-over-year, though it fell short of analyst projections.
• Several analysts have an "outperform" rating for Cameco and have set a price target range between $100.00 and $110.00, indicating optimism about the company's future growth prospects.

Plato Investment Management Ltd grew its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 161.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,201 shares of the basic materials company's stock after purchasing an additional 11,229 shares during the period. Plato Investment Management Ltd's holdings in Cameco were worth $757,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC lifted its holdings 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 acquiring an additional 300 shares during the period. Dagco Inc. bought a new stake in shares of Cameco during the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new stake in shares of Cameco during the 1st quarter worth approximately $29,000. Copia Wealth Management bought a new stake in shares of Cameco during the 4th quarter worth approximately $39,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Cameco during the 4th quarter worth approximately $40,000. Institutional investors own 70.21% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. 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 report on Friday, August 1st. TD Securities reissued a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research note on Tuesday, September 2nd. CLSA began coverage on shares of Cameco in a research note on Tuesday, September 9th. They issued an "outperform" rating and a $102.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Two equities 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 has a consensus rating of "Buy" and a consensus price target of $89.55.

Cameco Trading Up 10.4%

Shares of CCJ stock traded up $8.16 during trading hours on Monday, hitting $86.27. 10,188,686 shares of the company's stock traded hands, compared to its average volume of 4,704,716. The stock's 50 day simple moving average is $76.21 and its 200 day simple moving average is $60.12. The stock has a market cap of $37.56 billion, a PE ratio of 99.16 and a beta of 1.04. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $86.37. 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 released 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. The firm had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company's revenue for the quarter was up 46.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

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.