Turn8 Private Wealth Inc. Acquires 16,861 Shares of Cameco Corporation $CCJ

Key Points

• Turn8 Private Wealth Inc. has increased its holdings in Cameco Corporation by 35.4%, owning a total of 64,453 shares valued at approximately $2.65 million following a purchase of 16,861 shares.
• Several institutional investors have also increased their stakes in Cameco, contributing to institutional ownership of 70.21% of the company's stock.
• Analysts have expressed positive sentiments toward Cameco, with the Goldman Sachs Group raising its target price from $65 to $78 and a consensus rating of "Buy" among thirteen analysts.

Turn8 Private Wealth Inc. raised its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 35.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,453 shares of the basic materials company's stock after purchasing an additional 16,861 shares during the period. Turn8 Private Wealth Inc.'s holdings in Cameco were worth $2,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Country Club Bank grew its position in shares of Cameco by 0.5% in the 1st quarter. Country Club Bank now owns 43,553 shares of the basic materials company's stock worth $1,822,000 after buying an additional 224 shares during the last quarter. Two Sigma Investments LP lifted its stake in Cameco by 0.5% in the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company's stock worth $2,592,000 after acquiring an additional 238 shares during the period. Sunpointe LLC boosted its holdings in Cameco by 1.8% in the first quarter. Sunpointe LLC now owns 16,281 shares of the basic materials company's stock valued at $670,000 after acquiring an additional 288 shares in the last quarter. Highview Capital Management LLC DE increased its position in Cameco by 5.0% during the 4th quarter. Highview Capital Management LLC DE now owns 6,246 shares of the basic materials company's stock valued at $321,000 after purchasing an additional 300 shares during the period. Finally, Manchester Capital Management LLC raised its holdings in Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price 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. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. BMO Capital Markets reissued an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. CLSA initiated coverage on Cameco in a research note on Tuesday. They issued an "outperform" rating and a $102.00 target price for the company. Finally, National Bankshares restated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $89.55.

Cameco Stock Performance

Shares of CCJ opened at $79.53 on Thursday. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The stock has a market cap of $34.63 billion, a P/E ratio of 91.42 and a beta of 1.04. The business's 50 day moving average price is $75.97 and its 200-day moving average price is $59.41. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $83.02.

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

Cameco Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.