TD Asset Management Inc Purchases 23,321 Shares of Cameco Corporation (NYSE:CCJ)

Key Points

• TD Asset Management Inc increased its stake in Cameco Corporation by 1.1% during the first quarter, holding approximately 2.06 million shares valued at $84.65 million.
• Cameco reported $0.11 EPS for the most recent quarter, missing estimates, while quarterly revenue was $549.58 million, significantly below the expected $890.07 million.
• Analysts maintain a generally positive outlook on Cameco, with an average rating of "Buy" and a consensus target price of $80.65 per share.

TD Asset Management Inc grew its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,056,644 shares of the basic materials company's stock after buying an additional 23,321 shares during the period. TD Asset Management Inc owned approximately 0.47% of Cameco worth $84,652,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Cameco in the 4th quarter valued at approximately $188,595,000. FMR LLC raised its position in Cameco by 8.7% in the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock valued at $1,163,942,000 after buying an additional 1,811,876 shares during the last quarter. Driehaus Capital Management LLC raised its position in Cameco by 120.2% in the 4th quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock valued at $115,398,000 after buying an additional 1,225,966 shares during the last quarter. Alliancebernstein L.P. raised its position in Cameco by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company's stock valued at $518,443,000 after buying an additional 1,196,336 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Cameco by 35.9% in the 4th quarter. Wellington Management Group LLP now owns 2,590,976 shares of the basic materials company's stock valued at $133,151,000 after buying an additional 685,145 shares during the last quarter. Institutional investors own 70.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group reissued a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Royal Bank Of Canada boosted their price target on Cameco from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. The Goldman Sachs Group boosted their price target on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Finally, Glj Research reaffirmed a "buy" rating and set a $75.27 price target on shares of Cameco in a research report on Thursday, June 12th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $80.65.

Cameco Stock Performance

Shares of CCJ stock traded down $0.48 during trading on Monday, reaching $79.12. 3,533,192 shares of the company's stock were exchanged, compared to its average volume of 4,692,879. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $34.45 billion, a PE ratio of 197.80 and a beta of 1.03. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $80.06. The firm's fifty day moving average price is $68.07 and its 200-day moving average price is $53.46.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The business had revenue of $549.58 million for the quarter, compared to analyst estimates of $890.07 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The firm's revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 earnings per share. As a group, sell-side analysts anticipate 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.