Sheets Smith Wealth Management Purchases New Shares in Cameco Corporation $CCJ

Key Points

• Sheets Smith Wealth Management acquired a new stake of 11,863 shares in Cameco Corporation during Q2, valued at approximately $881,000.
• Several institutional investors have increased their holdings in Cameco, with the Canada Pension Plan Investment Board lifting its position by 215.7%.
• Cameco recently reported earnings of $0.51 per share for the last quarter, exceeding estimates, and its revenue increased by 46.7% year-over-year.

Sheets Smith Wealth Management purchased a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,863 shares of the basic materials company's stock, valued at approximately $881,000.

A number of other institutional investors have also made changes to their positions in CCJ. Alliancebernstein L.P. raised its holdings in shares of 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 buying an additional 3,959,837 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Cameco by 215.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock valued at $83,636,000 after purchasing an additional 1,387,797 shares during the period. Temasek Holdings Private Ltd acquired a new position in Cameco during the 1st quarter valued at about $55,513,000. Nuveen LLC acquired a new position in Cameco during the 1st quarter valued at about $29,290,000. Finally, AGF Management Ltd. lifted its position in Cameco by 19.0% during the 1st 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. 70.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CCJ. Royal Bank Of Canada upped their target price on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Glj Research reiterated a "buy" rating and issued a $75.27 price objective on shares of Cameco in a report on Thursday, June 12th. CLSA started coverage on Cameco in a report on Tuesday, September 9th. They issued an "outperform" rating and a $102.00 price objective for the company. The Goldman Sachs Group upped their price objective on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $89.55.

Cameco Stock Performance

CCJ stock opened at $83.08 on Thursday. The business's 50-day moving average price is $77.89 and its two-hundred day moving average price is $62.18. 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 firm has a market cap of $36.17 billion, a PE ratio of 95.49 and a beta of 1.04. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $89.13.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 8.21% and a net margin of 14.97%.The company's revenue for the quarter was up 46.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Cameco Corporation will post 1.27 earnings per share 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.

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