Intech Investment Management LLC Raises Stock Position in Cameco Corporation $CCJ

Intech Investment Management LLC raised its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 19.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 539,326 shares of the basic materials company’s stock after purchasing an additional 87,545 shares during the period. Intech Investment Management LLC owned 0.12% of Cameco worth $22,199,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Northern Trust Corp boosted its stake in Cameco by 50.8% during the fourth quarter. Northern Trust Corp now owns 367,299 shares of the basic materials company’s stock valued at $18,875,000 after buying an additional 123,684 shares during the period. Bison Wealth LLC raised its holdings 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 valued at $1,102,000 after acquiring an additional 2,975 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of Cameco by 8,363.6% during the 4th quarter. CoreCap Advisors LLC now owns 931 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 920 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Cameco by 21.7% during the fourth quarter. EP Wealth Advisors LLC now owns 8,420 shares of the basic materials company’s stock worth $433,000 after purchasing an additional 1,499 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Cameco by 6.8% in the fourth quarter. Deutsche Bank AG now owns 638,610 shares of the basic materials company’s stock worth $32,818,000 after purchasing an additional 40,667 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CCJ. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Tuesday, September 2nd. National Bankshares reiterated an “outperform” rating on shares of Cameco in a research report on Friday, August 22nd. Scotiabank reissued an “outperform” rating on shares of Cameco in a research note on Tuesday, July 8th. The Goldman Sachs Group lifted their price target on Cameco from $65.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. Finally, Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the company an “outperform” rating in a research report on Tuesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. Based on data from MarketBeat, Cameco currently has a consensus rating of “Buy” and a consensus price target of $87.05.

Cameco Price Performance

CCJ opened at $77.39 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The stock’s 50 day simple moving average is $75.81 and its 200 day simple moving average is $59.27. The firm has a market cap of $33.69 billion, a price-to-earnings ratio of 88.95 and a beta of 1.04. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $83.02.

Cameco (NYSE:CCJ) (TSE:CCO) last released 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 firm had revenue of $467.72 million during the quarter, compared to analyst estimates of $819.79 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The business’s quarterly revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, analysts predict that Cameco Corporation will post 1.27 earnings per share 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.