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

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 528,797 shares of the basic materials company’s stock after selling 31,845 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Cameco were worth $39,253,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. MetLife Investment Management LLC purchased a new stake in shares of Cameco in the 1st quarter worth about $2,131,000. TD Asset Management Inc boosted its position in shares of Cameco by 3.7% in the 2nd quarter. TD Asset Management Inc now owns 2,133,725 shares of the basic materials company’s stock worth $158,141,000 after buying an additional 77,081 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its position in shares of Cameco by 50.0% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock worth $1,750,000 after buying an additional 14,154 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its position in shares of Cameco by 41.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company’s stock worth $1,663,000 after buying an additional 11,879 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its position in shares of Cameco by 74.7% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company’s stock worth $2,017,000 after buying an additional 20,947 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Trading Down 1.7%

NYSE CCJ opened at $86.60 on Tuesday. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $97.79. The company has a 50-day moving average of $82.28 and a 200-day moving average of $69.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The company has a market cap of $37.70 billion, a P/E ratio of 99.54 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same quarter in the prior year, the company posted $0.14 EPS. The company’s quarterly revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

CCJ has been the topic of several recent research reports. Scotiabank reiterated an “outperform” rating on shares of Cameco in a research report on Tuesday, July 8th. TD Securities reiterated a “buy” rating on shares of Cameco in a research report on Tuesday, August 5th. Wall Street Zen raised shares of Cameco from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. UBS Group set a $102.00 target price on shares of Cameco in a research note on Tuesday, September 9th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Cameco in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Cameco has an average rating of “Buy” and an average target price of $89.55.

Cameco Profile

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.