Sumitomo Mitsui Trust Group Inc. Raises Stake in Cameco Corporation $CCJ

Sumitomo Mitsui Trust Group Inc. grew its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 35.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 535,743 shares of the basic materials company’s stock after purchasing an additional 139,592 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Cameco were worth $58,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCJ. Norges Bank bought a new stake in shares of Cameco during the 4th quarter valued at $443,265,000. Marshall Wace LLP boosted its holdings in Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after buying an additional 1,729,454 shares during the period. Mizuho Markets Cayman LP bought a new position in Cameco in the 3rd quarter worth $128,370,000. Northwestern Mutual Wealth Management Co. increased its stake in Cameco by 14,338.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock worth $101,744,000 after buying an additional 1,104,378 shares in the last quarter. Finally, Man Group plc increased its stake in Cameco by 126.3% in the 3rd quarter. Man Group plc now owns 1,698,728 shares of the basic materials company’s stock worth $142,455,000 after buying an additional 948,068 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

CCJ traded up $0.32 during trading on Friday, hitting $96.06. 2,321,727 shares of the company traded hands, compared to its average volume of 2,667,316. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $41.84 billion, a PE ratio of 88.94, a P/E/G ratio of 1.68 and a beta of 1.02. The stock’s 50-day simple moving average is $106.85 and its two-hundred day simple moving average is $110.81. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter in the previous year, the company earned $0.16 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CCJ has been the topic of a number of recent analyst reports. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Barclays started coverage on Cameco in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price objective for the company. Bank of America cut their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Royal Bank Of Canada boosted their price target on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and an average target price of $148.11.

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.