Geode Capital Management LLC Raises Holdings in Cameco Corporation $CCJ

Geode Capital Management LLC lifted its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 20.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,372,878 shares of the basic materials company’s stock after purchasing an additional 578,393 shares during the quarter. Geode Capital Management LLC owned about 0.77% of Cameco worth $250,797,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CCJ. PNC Financial Services Group Inc. increased its stake in Cameco by 1.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 160,622 shares of the basic materials company’s stock valued at $11,923,000 after purchasing an additional 2,385 shares in the last quarter. Wealth Alliance LLC lifted its stake in shares of Cameco by 1.6% during the second quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company’s stock worth $745,000 after buying an additional 154 shares during the period. SBI Securities Co. Ltd. grew its holdings in shares of Cameco by 4.2% during the second quarter. SBI Securities Co. Ltd. now owns 11,364 shares of the basic materials company’s stock valued at $844,000 after buying an additional 460 shares during the last quarter. Nwam LLC increased its position in shares of Cameco by 11.7% in the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock valued at $6,304,000 after acquiring an additional 8,519 shares during the period. Finally, Samalin Investment Counsel LLC raised its stake in Cameco by 5.6% in the 2nd quarter. Samalin Investment Counsel LLC now owns 5,535 shares of the basic materials company’s stock worth $411,000 after acquiring an additional 296 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cameco in a research report on Wednesday, October 8th. UBS Group began coverage on Cameco in a research report on Monday, November 10th. They issued a “neutral” rating and a $140.00 target price on the stock. Royal Bank Of Canada cut their price target on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday. National Bankshares restated an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. Finally, Raymond James Financial upped their price objective on shares of Cameco to $150.00 in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.75.

Cameco Stock Down 1.5%

Cameco stock opened at $84.69 on Monday. The business’s 50-day moving average price is $88.09 and its 200 day moving average price is $75.23. 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 firm has a market cap of $36.87 billion, a price-to-earnings ratio of 97.34 and a beta of 0.98. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $110.15.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). The company had revenue of $313.74 million during the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) EPS. Cameco has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be given a dividend of $0.24 per share. This is a boost from Cameco’s previous annual dividend of $0.12. This represents a yield of 25.0%. The ex-dividend date is Monday, December 1st. Cameco’s dividend payout ratio (DPR) is 19.77%.

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.