TD Waterhouse Canada Inc. Acquires 136,613 Shares of Cameco Corporation $CCJ

Key Points

• TD Waterhouse Canada increased its Cameco stake by 15.4% in the second quarter, purchasing 136,613 shares and bringing its holdings to 1.02 million shares worth approximately $99.7 million. Institutional investors collectively own 70.21% of Cameco.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and five Hold ratings, resulting in a consensus “Moderate Buy” rating and a $145.09 price target. Recent targets ranged from $97 to $140.
• Cameco’s latest quarterly results fell short of expectations: EPS was $0.13 versus the $0.26 consensus estimate, while revenue declined 6.8% year over year to $573.1 million. The stock opened at $100.56 and remains well below its 52-week high of $135.24.

TD Waterhouse Canada Inc. increased its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 15.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,022,122 shares of the basic materials company's stock after purchasing an additional 136,613 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.23% of Cameco worth $99,697,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Bison Wealth LLC boosted its stake in shares of Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after buying an additional 2,975 shares during the last quarter. AQR Capital Management LLC raised its holdings in Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after acquiring an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock worth $349,000 after acquiring an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock worth $24,895,000 after acquiring an additional 64,512 shares in the last quarter. Finally, NewGen Equity Long Short Fund acquired a new position in Cameco during the second quarter valued at approximately $14,252,000. Institutional investors own 70.21% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on CCJ. Truist Financial raised their price target on Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Sanford C. Bernstein reiterated an "outperform" rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Barclays cut their price objective on Cameco from $104.00 to $97.00 and set an "equal weight" rating for the company in a report on Tuesday, August 4th. Bank of America lowered their target price on shares of Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.09.

Cameco Trading Up 4.3%

Cameco stock opened at $100.56 on Friday. The stock has a 50-day simple moving average of $95.33 and a 200 day simple moving average of $106.45. The stock has a market capitalization of $43.80 billion, a P/E ratio of 170.44, a PEG ratio of 1.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. Cameco Corporation has a 52 week low of $74.63 and a 52 week high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) 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 the consensus estimate of $579.60 million. During the same quarter in the prior year, the company earned $0.71 EPS. Cameco's quarterly revenue was down 6.8% on a year-over-year basis. Analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Company Profile

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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