Tcfg Wealth Management LLC Sells 7,140 Shares of Cameco Corporation $CCJ

Key Points

• Tcfg Wealth Management LLC reduced its stake in Cameco Corporation by 23.6%, selling 7,140 shares and now holding 23,160 shares valued at approximately $1.7 million.
• Multiple hedge funds have increased their stakes in Cameco, with Bison Wealth LLC, Wealth Enhancement Advisory, and GAMMA Investing significantly upping their positions in recent quarters.
• Cameco Corporation's stock recently had a price target raised by Royal Bank of Canada to $110, reflecting a positive outlook as analysts emphasize its potential for growth.

Tcfg Wealth Management LLC lowered its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 23.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,160 shares of the basic materials company's stock after selling 7,140 shares during the period. Cameco accounts for approximately 0.8% of Tcfg Wealth Management LLC's holdings, making the stock its 27th biggest holding. Tcfg Wealth Management LLC's holdings in Cameco were worth $1,719,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bison Wealth LLC lifted its position in shares of Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after purchasing an additional 2,975 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Cameco by 29.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,275 shares of the basic materials company's stock valued at $322,000 after buying an additional 1,439 shares during the period. GAMMA Investing LLC raised its stake in Cameco by 3,927.4% in the first quarter. GAMMA Investing LLC now owns 20,580 shares of the basic materials company's stock worth $847,000 after buying an additional 20,069 shares in the last quarter. Merit Financial Group LLC purchased a new stake in Cameco in the first quarter worth about $284,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Cameco in the first quarter worth about $202,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. CLSA initiated coverage on Cameco in a report on Tuesday, September 9th. They set an "outperform" rating and a $102.00 target price on the stock. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research report on Tuesday, September 2nd. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Cameco in a research report on Saturday, September 27th. Finally, Royal Bank Of Canada boosted their target price on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $89.55.

Cameco Stock Up 1.4%

CCJ stock opened at $85.39 on Tuesday. The business has a 50 day moving average of $78.83 and a 200 day moving average of $64.78. The firm has a market cap of $37.18 billion, a PE ratio of 98.15 and a beta of 0.99. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $89.13. 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 earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping 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 the consensus estimate of $819.79 million. During the same period in the previous year, the company posted $0.14 earnings per share. The company's revenue for the quarter was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. On average, research analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal 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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