SCP Investment LP Purchases Shares of 6,800 Cameco Corporation $CCJ

SCP Investment LP acquired a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, according to its most recent filing with the SEC. The firm acquired 6,800 shares of the basic materials company’s stock, valued at approximately $505,000. Cameco comprises approximately 0.4% of SCP Investment LP’s holdings, making the stock its 29th biggest holding.

Several other hedge funds have also recently made changes to their positions in the business. Alliancebernstein L.P. lifted its stake in Cameco by 39.3% in the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock worth $578,226,000 after acquiring an additional 3,959,837 shares during the period. Canada Pension Plan Investment Board increased its position in Cameco by 215.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company’s stock valued at $83,636,000 after purchasing an additional 1,387,797 shares during the period. Temasek Holdings Private Ltd bought a new position in Cameco in the 1st quarter worth $55,513,000. Acadian Asset Management LLC raised its stake in Cameco by 1,428.6% in the second quarter. Acadian Asset Management LLC now owns 978,300 shares of the basic materials company’s stock worth $72,505,000 after buying an additional 914,300 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Cameco during the 1st quarter valued at $29,290,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group started coverage on Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 price target for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cameco in a report on Tuesday. BMO Capital Markets restated an “outperform” rating on shares of Cameco in a research note on Friday, August 29th. Royal Bank Of Canada reduced their price target on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, November 13th. Finally, Raymond James Financial increased their price objective on shares of Cameco to $150.00 in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and an average target price of $113.75.

Cameco Price Performance

Shares of Cameco stock opened at $88.89 on Thursday. The stock’s fifty day moving average is $88.75 and its 200 day moving average is $77.05. Cameco Corporation has a one year low of $35.00 and a one year high of $110.15. 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 stock has a market cap of $38.70 billion, a P/E ratio of 102.17 and a beta of 0.98.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The company had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) earnings per share. Cameco has set its FY 2025 guidance at EPS. 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 disclosed an annual dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st will be given a dividend of $0.24 per share. This represents a dividend yield of 25.0%. The ex-dividend date is Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is 19.77%.

Cameco Profile

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.