Cameco Corporation $CCJ Shares Sold by Sciencast Management LP

Key Points

• Sciencast Management LP sold 32,469 shares of Cameco Corporation, reducing its stake by 56.8%, leaving it with 24,726 shares worth approximately $1,018,000.
• Several hedge funds, including Northern Trust Corp and CoreCap Advisors LLC, have increased their stakes in Cameco, highlighting strong interest from institutional investors, who now own 70.21% of the stock.
• Cameco has received favorable ratings from analysts, with a consensus rating of "Buy" and a target price set at $83.32, reflecting positive growth expectations for the company.

Sciencast Management LP lessened its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 56.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,726 shares of the basic materials company's stock after selling 32,469 shares during the quarter. Sciencast Management LP's holdings in Cameco were worth $1,018,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Cameco by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company's stock valued at $703,295,000 after buying an additional 300,088 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 purchasing an additional 190,337 shares during the period. Alliancebernstein L.P. raised its position in Cameco by 39.3% in the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock valued at $578,226,000 after purchasing an additional 3,959,837 shares during the period. AGF Management Ltd. raised its position in Cameco by 19.0% in 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 purchasing an additional 644,413 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Cameco by 20.6% in the first 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 during the period. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Stock Down 2.3%

Shares of CCJ stock traded down $1.82 on Friday, reaching $78.07. 3,641,971 shares of the stock were exchanged, compared to its average volume of 3,576,569. 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 business's 50 day moving average price is $76.21 and its 200 day moving average price is $59.90. The company has a market capitalization of $33.99 billion, a price-to-earnings ratio of 89.74 and a beta of 1.04. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $83.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping analysts' consensus estimates 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 was up 46.7% compared to the same quarter last year. 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. As a group, sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on CCJ. The Goldman Sachs Group boosted their target price on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a research note on Friday, August 29th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research note on Tuesday, September 2nd. TD Securities restated a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada boosted their price target on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, Cameco has an average 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.