Ramirez Asset Management Inc. Has $8.88 Million Stake in Cameco Corporation $CCJ

Key Points

• Ramirez Asset Management Inc. increased its stake in Cameco Corporation by 59.1% in the second quarter, bringing its total holdings to approximately $8.88 million, making Cameco the firm’s 12th largest investment.
• Cameco reported earnings of $0.51 per share for the last quarter, exceeding analysts' expectations, with a 46.7% year-over-year revenue growth despite actual revenue falling short of estimates.
• Institutional investors currently own 70.21% of Cameco's stock, indicating significant interest from larger financial entities in the company's potential in the uranium market.

Ramirez Asset Management Inc. lifted its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 59.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,637 shares of the basic materials company's stock after buying an additional 44,442 shares during the quarter. Cameco comprises approximately 1.3% of Ramirez Asset Management Inc.'s investment portfolio, making the stock its 12th biggest holding. Ramirez Asset Management Inc.'s holdings in Cameco were worth $8,881,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont grew its position in shares of Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock worth $29,000 after buying an additional 350 shares during the period. Hilltop National Bank acquired a new position in Cameco during the second quarter valued at approximately $30,000. Atticus Wealth Management LLC acquired a new position in Cameco during the second quarter valued at approximately $34,000. Manchester Capital Management LLC grew its holdings in 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 purchasing an additional 300 shares during the period. Finally, Dagco Inc. acquired a new position in Cameco during the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Performance

Shares of CCJ opened at $86.81 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $89.13. The firm's 50 day moving average price is $79.40 and its two-hundred day moving average price is $65.36. The firm has a market cap of $37.80 billion, a P/E ratio of 99.78 and a beta of 0.99.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced 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. The firm had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business's revenue was up 46.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. On average, analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CCJ. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a report on Friday, August 29th. Wall Street Zen upgraded shares of Cameco from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. UBS Group set a $102.00 price objective on shares of Cameco in a report on Tuesday, September 9th. Glj Research restated a "buy" rating and set a $75.27 price objective on shares of Cameco in a report on Thursday, June 12th. Finally, President Capital upgraded shares of Cameco from a "neutral" rating to a "buy" rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Cameco presently has an average rating of "Buy" and a consensus price target 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.

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