Sumitomo Mitsui Trust Group Inc. Increases Stock Position in Cameco Corporation $CCJ

Key Points

• Sumitomo Mitsui Trust Group increased its Cameco stake by 35.2% in the first quarter, buying 139,592 additional shares and bringing its total to 535,743 shares valued at about $58.2 million.
• Several other institutional investors also adjusted positions in Cameco, and institutions now own 70.21% of the company’s stock.
• Analysts remain mixed but generally positive: Cameco has a Moderate Buy consensus with an average target price of $148.11, while the stock recently traded at $96.06.

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 35.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 535,743 shares of the basic materials company's stock after purchasing an additional 139,592 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.12% of Cameco worth $58,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC purchased a new position in shares of Cameco in the fourth quarter worth $25,000. Founders Capital Management purchased a new stake in shares of Cameco during the fourth quarter valued at $27,000. Strategic Advocates LLC purchased a new stake in shares of Cameco during the third quarter valued at $28,000. Mcguire Capital Advisors Inc. bought a new stake in Cameco in the 4th quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Cameco by 30,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock worth $28,000 after buying an additional 307 shares in the last quarter. Institutional investors own 70.21% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. TD Securities cut shares of Cameco from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Weiss Ratings lowered shares of Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 4th. Barclays initiated coverage on shares of Cameco in a report on Thursday, May 21st. They set an "equal weight" rating and a $108.00 price objective for the company. Scotiabank restated an "outperform" rating and issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Finally, Bank of America cut their target price on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research report on Thursday. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $148.11.

Cameco Stock Performance

Shares of NYSE:CCJ traded up $0.32 during midday trading on Friday, hitting $96.06. The company had a trading volume of 2,321,727 shares, compared to its average volume of 2,667,316. Cameco Corporation has a 12-month low of $68.96 and a 12-month high of $135.24. The company has a fifty day moving average of $106.85 and a two-hundred day moving average of $110.81. The company has a market cap of $41.84 billion, a price-to-earnings ratio of 88.94, a PEG ratio of 1.68 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same period in the previous year, the business earned $0.16 earnings per share. Cameco's quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Cameco Corporation will post 1.2 EPS for the current fiscal year.

About Cameco

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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