Cameco Corporation $CCJ Shares Sold by Azarias Capital Management L.P.

Azarias Capital Management L.P. lowered its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 13.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,572 shares of the basic materials company’s stock after selling 15,094 shares during the quarter. Cameco makes up about 3.3% of Azarias Capital Management L.P.’s holdings, making the stock its 9th largest holding. Azarias Capital Management L.P.’s holdings in Cameco were worth $7,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CCJ. Bison Wealth LLC raised its holdings in shares of Cameco by 16.1% during the fourth 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 during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Cameco by 29.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,275 shares of the basic materials company’s stock valued at $322,000 after buying an additional 1,439 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Cameco by 3,927.4% in the first quarter. GAMMA Investing LLC now owns 20,580 shares of the basic materials company’s stock valued at $847,000 after buying an additional 20,069 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Cameco in the first quarter valued at about $284,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Cameco in the first quarter valued at about $202,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Glj Research reaffirmed a “buy” rating and issued a $75.27 price target on shares of Cameco in a report on Thursday, June 12th. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a report on Tuesday, July 8th. Royal Bank Of Canada raised their target price on Cameco from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Finally, UBS Group set a $102.00 target price on Cameco in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Cameco presently has an average rating of “Buy” and a consensus price target of $89.55.

Cameco Stock Up 0.2%

Shares of NYSE:CCJ opened at $84.33 on Friday. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $89.13. The company has a market capitalization of $36.72 billion, a price-to-earnings ratio of 96.93 and a beta of 0.99. The business has a 50-day moving average price of $78.70 and a 200 day moving average price of $64.22. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results 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 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 analysts’ expectations of $819.79 million. During the same period last year, the business earned $0.14 earnings per share. The business’s revenue for the quarter was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. Sell-side analysts expect 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.