IQ EQ FUND MANAGEMENT IRELAND Ltd Makes New $1.51 Million Investment in Cameco Corporation $CCJ

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,348 shares of the basic materials company’s stock, valued at approximately $1,510,000.

Other large investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC grew its position 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 during the period. Dagco Inc. bought a new stake in Cameco in the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new stake in shares of Cameco during the 1st quarter valued at $29,000. Trust Co. of Vermont grew its position 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 valued at $29,000 after acquiring an additional 350 shares during the period. Finally, Hilltop National Bank bought a new stake in shares of Cameco during the 2nd quarter valued at $30,000. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Up 23.4%

CCJ opened at $106.90 on Wednesday. The firm has a 50-day simple moving average of $82.94 and a two-hundred day simple moving average of $70.18. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $110.16. The company has a market capitalization of $46.54 billion, a PE ratio of 122.87 and a beta of 0.99. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last released 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 business had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same quarter in the prior year, the firm 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 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on CCJ shares. TD Securities reaffirmed a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. Wall Street Zen raised shares of Cameco from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Cameco in a report on Friday, August 29th. President Capital raised shares of Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $89.55.

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.