Cameco Corporation $CCJ Stock Purchased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Cameco stake by 11.1% in the third quarter, adding 113,748 shares to own 1.14 million shares valued at approximately $97.3 million. Institutional investors collectively own 70.21% of Cameco.
• Analysts maintain a generally positive outlook, with 12 Buy ratings, four Holds and one Sell rating. Cameco has a “Moderate Buy” consensus rating and an average price target of $148.68, though Zacks Research downgraded the stock to “Strong Sell.”
• Cameco shares fell 2.1% to $81.46, well below their 52-week high of $135.24. The company’s latest quarterly results missed earnings expectations, with EPS of $0.13 versus $0.26 expected and revenue down 6.8% year over year.

TD Waterhouse Canada Inc. raised its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 11.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,135,870 shares of the basic materials company's stock after purchasing an additional 113,748 shares during the period. TD Waterhouse Canada Inc. owned about 0.26% of Cameco worth $97,284,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CCJ. Bank of America Corp DE acquired a new stake in Cameco in the 2nd quarter valued at about $735,498,000. Canada Pension Plan Investment Board purchased a new stake in shares of Cameco in the second quarter valued at about $420,346,000. BlackRock Inc. acquired a new stake in shares of Cameco in the second quarter valued at approximately $381,091,000. Cibc World Market Inc. acquired a new stake in shares of Cameco in the second quarter valued at approximately $354,022,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Cameco in the second quarter valued at approximately $301,990,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Analysts Set New Price Targets

CCJ has been the topic of a number of recent research reports. Zacks Research lowered Cameco from a "hold" rating to a "strong sell" rating in a research note on Monday, October 5th. Weiss Ratings raised Cameco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Citigroup reissued a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Jefferies Financial Group began coverage on Cameco in a research report on Thursday, September 3rd. They issued a "buy" rating and a $138.00 price objective on the stock. Finally, Truist Financial increased their price objective on Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $148.68.

Cameco Trading Down 2.1%

Shares of CCJ traded down $1.77 on Friday, hitting $81.46. 2,932,717 shares of the stock traded hands, compared to its average volume of 3,596,000. Cameco Corporation has a 1 year low of $77.70 and a 1 year high of $135.24. The stock's 50 day moving average is $94.11 and its two-hundred day moving average is $101.49. The firm has a market capitalization of $35.48 billion, a P/E ratio of 138.06, a P/E/G ratio of 1.69 and a beta of 1.17. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. During the same quarter last year, the firm posted $0.71 earnings per share. The company's revenue was down 6.8% on a year-over-year basis. As a group, sell-side analysts predict that Cameco Corporation will post 1.07 earnings per share for the current year.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world's major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company's operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.

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