Balboa Wealth Partners Reduces Stake in Cameco Corporation by 49.2%

Balboa Wealth Partners has significantly reduced its investment in Cameco Corporation, selling 12,493 shares during the second quarter of the year, according to data from HoldingsChannel. This decision has cut their stake in the uranium and nuclear power company by 49.2%, leaving them with 12,886 shares valued at approximately $957,000 at the close of the latest reporting period.

A number of other institutional investors have also made adjustments to their holdings in Cameco. Notably, Manchester Capital Management LLC doubled its stake during the first quarter, acquiring an additional 300 shares to reach a total of 600 shares, which are currently valued at $25,000. Dagco Inc. and SVB Wealth LLC each entered new positions in Cameco, investing $28,000 and $29,000, respectively. Trust Co. of Vermont made a striking move, increasing its holdings by an impressive 1,029.4% during the second quarter, now owning 384 shares worth $29,000 after purchasing an additional 350 shares. Hilltop National Bank also established a new stake in Cameco, with an investment of $30,000. Overall, institutional investors now own approximately 70.21% of the company’s stock.

Analysts Provide Positive Outlook on Cameco

Several research firms have recently issued reports on Cameco, reflecting a generally optimistic outlook. The Royal Bank of Canada raised its target price for the stock from $100.00 to $110.00 and assigned it an “outperform” rating. BMO Capital Markets and Scotiabank have both reiterated their “outperform” ratings, while Raymond James Financial maintained a similar stance. UBS Group has set a price target of $102.00 on the shares. Among analysts, one has assigned a Strong Buy rating, fourteen consider it a Buy, and one has rated it as Hold. The consensus rating is currently “Buy,” with a price target averaging $89.55 according to MarketBeat.

Cameco’s stock faced a decline of 4.8% recently, opening at $86.75. The company has experienced a volatile year, with shares reaching a low of $35.00 and a high of $97.79. Its financial metrics show a debt-to-equity ratio of 0.15, a current ratio of 2.96, and a quick ratio of 2.00. The stock has a market capitalization of $37.77 billion, a price-to-earnings (P/E) ratio of 99.71, and a beta of 0.99.

Cameco’s Recent Financial Performance

Cameco Corporation recently reported its quarterly earnings on July 31, achieving earnings per share (EPS) of $0.51, surpassing analysts’ expectations of $0.29 by $0.22. The company recorded a net margin of 14.97% and a return on equity of 8.21%. Revenue for the quarter was $467.72 million, although this fell short of analyst estimates of $819.79 million. In the same quarter last year, the business had posted an EPS of $0.14, marking a year-over-year revenue increase of 46.7%.

Looking ahead, Cameco has provided guidance for the fiscal year 2025, with analysts projecting an EPS of 1.27 for the current fiscal year. The company is well-positioned in the uranium market, focusing on the exploration, mining, and milling of uranium concentrate, as well as fuel services related to uranium refinement and fabrication.

For further updates on institutional investments and market performance, readers can visit HoldingsChannel.com for the latest 13F filings and insider trades related to Cameco Corporation.