Cameco Corporation $CCJ Position Trimmed by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has significantly reduced its stake in Cameco Corporation by 57.2%, selling 1,482,987 shares during the first quarter, now owning 1,107,989 shares worth approximately $45.6 million.
• Analysts hold a generally positive outlook on Cameco, with several firms maintaining "buy" or "outperform" ratings, and a consensus price target of $83.32.
• Cameco's latest earnings report showed an increase in revenue of 46.7% year-over-year, with earnings per share exceeding consensus estimates, indicating a strong performance despite higher revenue expectations.

Wellington Management Group LLP lessened its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 57.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,107,989 shares of the basic materials company's stock after selling 1,482,987 shares during the quarter. Wellington Management Group LLP owned about 0.25% of Cameco worth $45,605,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CCJ. Driehaus Capital Management LLC boosted its position in Cameco by 120.2% during the 4th quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock worth $115,398,000 after acquiring an additional 1,225,966 shares during the period. Nuveen LLC acquired a new position in Cameco during the 1st quarter worth $29,290,000. AGF Management Ltd. boosted 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 worth $166,206,000 after acquiring an additional 644,413 shares during the period. Covea Finance boosted its position in Cameco by 52.8% during the 1st quarter. Covea Finance now owns 1,665,979 shares of the basic materials company's stock worth $68,572,000 after acquiring an additional 575,393 shares during the period. Finally, Korea Investment CORP boosted its position in Cameco by 151.0% during the 1st quarter. Korea Investment CORP now owns 724,303 shares of the basic materials company's stock worth $29,813,000 after acquiring an additional 435,681 shares during the period. Institutional investors and hedge funds own 70.21% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCJ. Raymond James Financial restated an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a report on Tuesday, August 5th. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the company an "outperform" rating in a report on Tuesday, June 10th. National Bankshares restated an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. Finally, Glj Research restated a "buy" rating and issued a $75.27 price objective on shares of Cameco in a report on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to MarketBeat.com, Cameco presently has an average rating of "Buy" and an average price target of $83.32.

Cameco Trading Down 1.7%

Shares of Cameco stock traded down $1.33 on Friday, reaching $77.30. 4,338,966 shares of the company were exchanged, compared to its average volume of 4,719,593. The stock has a fifty day moving average price of $75.04 and a 200-day moving average price of $57.57. The firm has a market capitalization of $33.66 billion, a price-to-earnings ratio of 88.78 and a beta of 1.06. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $83.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.22. The company 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%.Cameco's revenue for the quarter was up 46.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. On average, analysts expect that Cameco Corporation will post 1.27 EPS for the current 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.