Vigilare Wealth Management Buys New Stake in Cameco Corporation $CCJ

Key Points

• Vigilare Wealth Management has acquired 12,363 shares of Cameco Corporation valued at approximately $918,000 during the second quarter.
• Analysts have positively reassessed Cameco, with Goldman Sachs raising its price target from $65 to $78, indicating a strong buy sentiment.
• Cameco reported earnings of $0.51 per share for the last quarter, surpassing estimates, with revenue increasing by 46.7% year-over-year.

Vigilare Wealth Management acquired a new position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,363 shares of the basic materials company's stock, valued at approximately $918,000.

Several other hedge funds have also modified their holdings of CCJ. Manchester Capital Management LLC lifted its holdings in Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after buying an additional 300 shares during the period. Dagco Inc. acquired a new position in shares of Cameco during the 1st quarter worth about $28,000. SVB Wealth LLC acquired a new position in shares of Cameco during the 1st quarter worth about $29,000. Trust Co. of Vermont boosted its stake 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 last quarter. Finally, Atticus Wealth Management LLC acquired a new position in shares of Cameco during the 2nd quarter worth about $34,000. 70.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on CCJ shares. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the company an "outperform" rating in a research report on Tuesday, June 10th. The Goldman Sachs Group lifted their price objective on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. National Bankshares reissued an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. TD Securities reissued a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. Finally, CLSA assumed coverage on shares of Cameco in a research report on Tuesday, September 9th. They issued an "outperform" rating and a $102.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $89.55.

Cameco Price Performance

Shares of Cameco stock opened at $83.97 on Wednesday. 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. The company has a 50-day simple moving average of $78.44 and a two-hundred day simple moving average of $63.52. The stock has a market capitalization of $36.56 billion, a price-to-earnings ratio of 96.52 and a beta of 1.04.

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

Cameco Company 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.

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