Exor Capital LLP, a financial investment firm, has recently reduced its holdings in Cameco Co., a leading provider of uranium for electricity generation. According to Exor’s disclosure with the US Securities and Exchange Commission (SEC), the company sold 798,418 shares of Cameco during the first quarter of this year, resulting in a decrease of 14.7% in its overall holdings. As a result, Exor now owns 4,631,346 shares of Cameco’s stock, making it the firm’s seventh largest position and accounting for approximately 8.7% of its investment portfolio.
Based on Exor’s most recent SEC filing data, its stake in Cameco is valued at $121,202,000. This information sheds light on Exor Capital LLP’s current investment strategy and provides insight into their belief about the future prospects of Cameco Co. It is important to note that these figures represent the status as of September 10, 2023.
Cameco Corporation published its quarterly earnings results on August 2nd. The basic materials company reported earnings per share (EPS) of ($0.01) for the quarter – a significant miss compared to analysts’ consensus estimates of $0.16 EPS. This discrepancy highlights some challenges faced by Cameco during that period.
Despite this shortfall in earnings, Cameco showcased a return on equity (ROE) of 2.74% and a net margin of 4.67%. However, the company generated revenue of $482 million during the quarter – falling short compared to the consensus estimate of $636.37 million – indicating a decline in revenue by 13.6% when compared to the same quarter last year.
Equities research analysts have predicted that Cameco Co.’s earnings per share for the entire fiscal year will stand at an average value of $0.63.
Cameco Corporation operates through two primary segments – the Uranium segment and the Fuel Services segment. The Uranium segment focuses on various activities such as exploration, mining, milling, purchase, and sale of uranium concentrate. On the other hand, the Fuel Services segment is involved in refining, conversion, and fabrication of uranium concentrate as well as purchasing and selling conversion services.
As an essential player in the energy sector, Cameco’s performance has attracted attention from both investors and analysts alike. Exor Capital LLP’s reduction in holdings implies a shift in their investment strategy. It will be interesting to observe how Cameco responds to the challenges it faced during its last quarter and how the company positions itself in this ever-changing market going forward.
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Cameco Co.: Growing Interest from Hedge Funds and Institutional Investors Indicates Promising Future
September 10, 2023 – Cameco Co., a leading basic materials company, has seen significant investment activity from hedge funds and institutional investors in recent months. One notable acquisition was made by Clearview Wealth Advisors LLC during the first quarter of this year, acquiring a new position in Cameco worth approximately $25,000. Global Retirement Partners LLC also boosted its stake in the company by 291.3% during the same period, now owning 1,209 shares valued at $32,000.
Furthermore, Ahrens Investment Partners LLC entered the market with a new stake in Cameco worth $37,000 during the first quarter. Additionally, 1832 Asset Management L.P. increased its holdings by 61.9%, now owning 1,700 shares valued at $49,000. Princeton Global Asset Management LLC seized an opportunity and lifted its holdings by an astonishing 8,000.0% in the first quarter to own 2,025 shares worth $53,000.
These strategic moves by various institutional investors have resulted in approximately 66.57% of Cameco’s stock being owned by hedge funds and institutional investors. This influx of interest from such seasoned players is indicative of positive sentiments surrounding the company’s growth potential and long-term prospects.
On Friday, CCJ stock traded down slightly at $37.05 per share with a trade volume of about 1,785,102 shares exchanged hands on that day alone. The company currently holds a market capitalization of $16.05 billion and operates with a price-to-earnings ratio of 247.00 alongside a PEG (price/earnings to growth) ratio of 1.02., which indicates stable growth prospects relative to its current valuation.
Over the past fifty days leading up to September 10th today – Monday-, Cameco’s average trading price has been recorded at $34.02 with its two-hundred-day moving average reaching $29.77. These figures showcase a consistent upward trend in stock performance, indicative of positive market sentiment towards the company.
Cameco Co. holds an impressive debt-to-equity ratio of 0.08 as well as strong liquidity with a current ratio of 3.64 and quick ratio of 3.00, showcasing its sound financial standing and ability to meet short-term obligations.
A significant factor contributing to Cameco’s bullish outlook is the ratings and price targets set by several analysts in recent reports. TD Securities raised their target price from C$51.00 to C$55.00 on August 3rd, giving the company an “action list buy” rating. Bank of America also raised their price estimate from C$50.00 to C$59.00 that same month, maintaining a “buy” rating on the stock.
However, there have been some conflicting opinions as well, with Cantor Fitzgerald downgrading their rating from “buy” to “hold.” Nonetheless, Raymond James has increased its price target from C$50.00 to C$52.00 and maintains an “outperform” rating on Cameco.
According to Bloomberg.com, there is a general consensus among analysts that Cameco represents a solid investment opportunity with a “Moderate Buy” rating and an average price target of $54.20.
In conclusion, Cameco Co.’s recent acquisition activity by hedge funds and institutional investors highlights growing interest in the company’s potential for growth and profitability. The various strategic moves made by these players reinforce confidence in Cameco’s long-term prospects.
Furthermore, positive market sentiment is reflected in the steady upward movement of CCJ stock, coupled with favorable ratings and price targets set by renowned analysts in recent reports.
As always, investors are urged to conduct thorough research before making any investment decisions relating to any particular stock or securities mentioned here.