Cameco Corporation $CCJ Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Cameco Corporation by 3.7% to own about 0.49% of the company, valued at approximately $158.1 million.
• Several hedge funds, including Canada Pension Plan Investment Board, significantly boosted their positions in Cameco, indicating growing institutional interest.
• The company reported earnings of $0.51 EPS for the last quarter, surpassing estimates, with revenue rising 46.7% year-over-year.

TD Asset Management Inc lifted its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,133,725 shares of the basic materials company's stock after acquiring an additional 77,081 shares during the quarter. TD Asset Management Inc owned about 0.49% of Cameco worth $158,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CCJ. Alliancebernstein L.P. increased its stake in shares of Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock valued at $578,226,000 after acquiring an additional 3,959,837 shares during the period. Canada Pension Plan Investment Board grew its position in Cameco by 215.7% in the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock worth $83,636,000 after buying an additional 1,387,797 shares during the last quarter. Temasek Holdings Private Ltd acquired a new position in Cameco in the first quarter worth approximately $55,513,000. Nuveen LLC acquired a new position in Cameco in the first quarter worth approximately $29,290,000. Finally, AGF Management Ltd. grew its position in Cameco by 19.0% in the first quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock worth $166,206,000 after buying an additional 644,413 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CCJ. Scotiabank restated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. National Bankshares restated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Wall Street Zen lowered shares of Cameco from a "buy" rating to a "hold" rating in a research report on Saturday. President Capital raised shares of Cameco from a "neutral" rating to a "buy" rating in a research note on Monday, September 22nd. Finally, TD Securities reaffirmed a "buy" rating on shares of Cameco in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $89.55.

Cameco Trading Up 1.1%

Cameco stock opened at $93.12 on Wednesday. The company has a 50 day moving average price of $80.38 and a 200 day moving average price of $66.51. The firm has a market capitalization of $40.54 billion, a price-to-earnings ratio of 107.03 and a beta of 0.99. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $95.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. The company had revenue of $467.72 million during the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company's revenue for the quarter was up 46.7% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Research analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

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.

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