Summit X LLC Invests $234,000 in Cameco Corporation $CCJ

Summit X LLC purchased a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, Holdings Channel reports. The fund purchased 3,152 shares of the basic materials company’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hager Investment Management Services LLC increased its position in shares of Cameco by 0.4% during the second quarter. Hager Investment Management Services LLC now owns 30,628 shares of the basic materials company’s stock valued at $2,274,000 after purchasing an additional 127 shares during the period. Signaturefd LLC increased its stake in Cameco by 2.4% in the second quarter. Signaturefd LLC now owns 8,119 shares of the basic materials company’s stock valued at $603,000 after purchasing an additional 191 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in shares of Cameco by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 21,858 shares of the basic materials company’s stock worth $1,623,000 after acquiring an additional 206 shares in the last quarter. Blume Capital Management Inc. raised its holdings in Cameco by 2.2% during the 2nd quarter. Blume Capital Management Inc. now owns 13,361 shares of the basic materials company’s stock worth $992,000 after buying an additional 284 shares during the period. Finally, Sunpointe LLC lifted its holdings in shares of Cameco by 1.8% in 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 in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of research analyst reports. BMO Capital Markets reiterated 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 research report on Monday, September 22nd. Scotiabank restated an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. The Goldman Sachs Group raised their price objective on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, CLSA initiated coverage on Cameco in a research report on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 target price on the stock. One equities 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $102.61.

Cameco Trading Up 2.3%

CCJ opened at $92.30 on Monday. The firm has a market capitalization of $40.19 billion, a price-to-earnings ratio of 106.09 and a beta of 0.98. The company’s 50 day moving average price is $86.73 and its two-hundred day moving average price is $73.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $110.15.

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 during the quarter, compared to analyst estimates of $531.72 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) earnings per share. Cameco has set its FY 2025 guidance at EPS. As a group, research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be paid a $0.24 dividend. This is an increase from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 25.0%. The ex-dividend date of this dividend is Monday, December 1st. Cameco’s payout ratio is presently 13.95%.

Cameco Company 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.