Cameco Corporation $CCJ Shares Purchased by Westend Capital Management LLC

Key Points

• Westend Capital Management LLC increased its stake in Cameco Corporation by 1.9%, now holding 269,623 shares valued at approximately $20 million, making it the firm's third-largest position.
• Analysts currently exhibit strong confidence in Cameco, with a consensus rating of "Buy" and a price target averaging $89.55, while the stock recently saw a price increase of 4.5%.
• Cameco reported a significant earnings beat in its latest quarter, with an earnings per share of $0.51, surpassing expectations of $0.29, alongside a year-over-year revenue growth of 46.7%.

Westend Capital Management LLC boosted its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 269,623 shares of the basic materials company's stock after purchasing an additional 5,091 shares during the quarter. Cameco makes up 6.2% of Westend Capital Management LLC's holdings, making the stock its 3rd largest position. Westend Capital Management LLC owned about 0.06% of Cameco worth $20,014,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CCJ. MetLife Investment Management LLC acquired a new stake in shares of Cameco in the 1st quarter worth approximately $2,131,000. Northwest & Ethical Investments L.P. grew its stake in Cameco by 50.0% in the first quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company's stock worth $1,750,000 after purchasing an additional 14,154 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Cameco by 41.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock valued at $1,663,000 after buying an additional 11,879 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Cameco by 74.7% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company's stock valued at $2,017,000 after purchasing an additional 20,947 shares during the last quarter. Finally, Nicholson Meyer Capital Management Inc. purchased a new position in Cameco during the 1st quarter worth approximately $350,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Wall Street Analyst Weigh In

CCJ has been the subject of a number of research analyst reports. Glj Research reissued a "buy" rating and set a $75.27 target price on shares of Cameco in a research report on Thursday, June 12th. The Goldman Sachs Group lifted their price target 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. CLSA assumed coverage on shares of Cameco in a report on Tuesday, September 9th. They issued an "outperform" rating and a $102.00 price objective for the company. TD Securities reissued a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. Based on data from MarketBeat.com, Cameco presently has a consensus rating of "Buy" and an average target price of $89.55.

Cameco Trading Down 0.0%

NYSE:CCJ traded down $0.03 during midday trading on Monday, reaching $86.15. 6,018,880 shares of the stock traded hands, compared to its average volume of 4,216,081. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $87.15. The stock has a market capitalization of $37.51 billion, a P/E ratio of 99.03 and a beta of 1.04. The company has a fifty day moving average of $77.53 and a 200 day moving average of $61.86.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, beating 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 company had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. During the same period in the prior year, the firm posted $0.14 EPS. Cameco's revenue for the quarter was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. On average, research analysts predict that Cameco Corporation will post 1.27 EPS 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.