Sumitomo Mitsui Trust Group Inc. Purchases 89,026 Shares of Cameco Corporation (NYSE:CCJ)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 18.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 560,642 shares of the basic materials company's stock after acquiring an additional 89,026 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.13% of Cameco worth $23,076,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Cameco during the fourth quarter worth $388,000. Proficio Capital Partners LLC acquired a new position in Cameco during the 4th quarter valued at about $1,212,000. US Bancorp DE increased its position in Cameco by 2.0% during the 4th quarter. US Bancorp DE now owns 28,728 shares of the basic materials company's stock valued at $1,476,000 after buying an additional 554 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Cameco by 34.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,091 shares of the basic materials company's stock valued at $364,000 after buying an additional 1,830 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Cameco in the fourth quarter worth about $635,000. Institutional investors own 70.21% of the company's stock.

Cameco Trading Down 0.0%

Shares of NYSE:CCJ opened at $71.66 on Thursday. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $75.42. The business has a 50 day moving average of $58.75 and a two-hundred day moving average of $50.72. The company has a market capitalization of $31.20 billion, a PE ratio of 179.15 and a beta of 1.03.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The firm had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The business's quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. As a group, analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCJ. Stifel Canada raised shares of Cameco to a "strong-buy" rating in a research report on Wednesday, March 12th. Sanford C. Bernstein set a $70.00 price target on shares of Cameco and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Desjardins initiated coverage on shares of Cameco in a report on Friday, April 4th. They issued a "buy" rating for the company. Glj Research reissued a "buy" rating and set a $75.27 price objective on shares of Cameco in a report on Thursday, June 12th. Finally, UBS Group reissued a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Cameco presently has a consensus rating of "Buy" and an average target price of $80.65.

About Cameco

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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