Tocqueville Asset Management L.P. Buys Shares of 781,617 Cameco Corporation $CCJ

Tocqueville Asset Management L.P. bought a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, HoldingsChannel.com reports. The fund bought 781,617 shares of the basic materials company’s stock, valued at approximately $79,616,000. Cameco makes up about 1.1% of Tocqueville Asset Management L.P.’s holdings, making the stock its 20th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mcguire Capital Advisors Inc. purchased a new position in Cameco during the 4th quarter valued at $28,000. Caitong International Asset Management Co. Ltd increased its stake in Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 307 shares during the period. Sterling Capital Management LLC purchased a new stake in Cameco in the first quarter worth $30,000. Sunbelt Securities Inc. lifted its position in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 325 shares during the last quarter. Finally, Brown Lisle Cummings Inc. lifted its position in shares of Cameco by 3,200.0% during the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CCJ. Bank of America lowered their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Citigroup reiterated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Truist Financial upped their target price on shares of Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. 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 equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.68.

Cameco Price Performance

Shares of CCJ opened at $97.95 on Thursday. The company has a 50 day moving average price of $96.25 and a 200-day moving average price of $107.72. Cameco Corporation has a fifty-two week low of $68.96 and a fifty-two week high of $135.24. The stock has a market capitalization of $42.66 billion, a PE ratio of 166.01, a PEG 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.

Cameco (NYSE:CCJ) (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 analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. Cameco’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 earnings per share. Equities analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal 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.