Tocqueville Asset Management L.P. Invests $79.62 Million in Cameco Corporation $CCJ

Key Points

• Tocqueville Asset Management purchased 781,617 Cameco shares worth approximately $79.6 million, making CCJ its 20th-largest holding and representing about 1.1% of its portfolio. Institutional investors collectively own 70.21% of Cameco.
• Analyst sentiment remains favorable, with 14 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $145.68, despite one downgrade and some reduced targets.
• Cameco reported quarterly EPS of $0.13, below the $0.26 consensus estimate, while revenue of $573.1 million slightly missed forecasts and fell 6.8% year over year. Shares opened at $97.95, well below their 52-week high of $135.24.

Tocqueville Asset Management L.P. bought a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 781,617 shares of the basic materials company's stock, valued at approximately $79,616,000. Cameco makes up approximately 1.1% of Tocqueville Asset Management L.P.'s portfolio, making the stock its 20th largest position. Tocqueville Asset Management L.P. owned 0.18% of Cameco at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CCJ. Bison Wealth LLC grew its position in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock valued at $1,102,000 after purchasing an additional 2,975 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after buying an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock worth $349,000 after buying an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cameco by 11.9% in 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 buying an additional 64,512 shares in the last quarter. Finally, NewGen Equity Long Short Fund bought a new position in Cameco during the second quarter valued at approximately $14,252,000. 70.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CCJ. Citigroup restated a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Scotiabank reiterated an "outperform" rating and set a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. Sanford C. Bernstein reissued an "outperform" rating and issued a $135.00 target price on shares of Cameco in a report on Monday, June 15th. Bank of America decreased their price target on shares of Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a research note 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 investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $145.68.

Cameco Stock Performance

NYSE CCJ opened at $97.95 on Thursday. The company has a market cap of $42.66 billion, a P/E ratio of 166.01, a P/E/G ratio of 1.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. The business's 50 day moving average price is $96.25 and its 200-day moving average price is $107.72. Cameco Corporation has a fifty-two week low of $68.96 and a fifty-two week high of $135.24.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). The company had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The firm's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 earnings per share. Sell-side analysts predict 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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