Platinum Investment Management Ltd. Has $74.38 Million Stake in Cameco Corporation $CCJ

Platinum Investment Management Ltd. lessened its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 49.3% in the 2nd quarter, Holdings Channel reports. The firm owned 1,002,144 shares of the basic materials company’s stock after selling 974,153 shares during the period. Cameco makes up 4.9% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 5th largest holding. Platinum Investment Management Ltd.’s holdings in Cameco were worth $74,379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCJ. Signaturefd LLC boosted its position in shares of Cameco by 2.4% during the 2nd quarter. Signaturefd LLC now owns 8,119 shares of the basic materials company’s stock valued at $603,000 after acquiring an additional 191 shares during the last quarter. Country Club Bank lifted its position in Cameco by 0.5% during the first quarter. Country Club Bank now owns 43,553 shares of the basic materials company’s stock valued at $1,822,000 after purchasing an additional 224 shares during the last quarter. Sunpointe LLC lifted its position in Cameco by 1.8% during the first quarter. Sunpointe LLC now owns 16,281 shares of the basic materials company’s stock valued at $670,000 after purchasing an additional 288 shares during the last quarter. Manchester Capital Management LLC lifted its position in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Finally, MinichMacGregor Wealth Management LLC lifted its holdings in shares of Cameco by 5.0% in the 1st quarter. MinichMacGregor Wealth Management LLC now owns 6,372 shares of the basic materials company’s stock valued at $262,000 after acquiring an additional 304 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on CCJ. The Goldman Sachs Group increased their price target on shares of Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. CLSA initiated coverage on Cameco in a research note on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 price objective for the company. UBS Group set a $102.00 price target on Cameco in a research report on Tuesday, September 9th. BMO Capital Markets restated an “outperform” rating on shares of Cameco in a research report on Friday, August 29th. Finally, Royal Bank Of Canada raised their price target on Cameco from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $89.55.

Cameco Price Performance

Shares of CCJ stock opened at $83.47 on Thursday. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $89.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The firm has a market capitalization of $36.34 billion, a P/E ratio of 95.94 and a beta of 0.99. The stock has a 50 day moving average price of $78.52 and a 200 day moving average price of $63.66.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same period last year, the company earned $0.14 earnings per share. The business’s revenue for the quarter was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, sell-side 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.