Harvest Portfolios Group Inc. Boosts Holdings in Cameco Corporation $CCJ

Harvest Portfolios Group Inc. lifted its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 62.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 226,668 shares of the basic materials company’s stock after purchasing an additional 86,869 shares during the period. Harvest Portfolios Group Inc. owned 0.05% of Cameco worth $20,755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Cameco in the 4th quarter worth about $8,143,000. PNC Financial Services Group Inc. lifted its position in shares of Cameco by 0.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 161,694 shares of the basic materials company’s stock worth $14,793,000 after purchasing an additional 457 shares during the period. Larson Financial Group LLC lifted its position in shares of Cameco by 116.8% in the 4th quarter. Larson Financial Group LLC now owns 1,886 shares of the basic materials company’s stock worth $173,000 after purchasing an additional 1,016 shares during the period. Gables Capital Management Inc. purchased a new stake in shares of Cameco in the 4th quarter worth about $178,000. Finally, HighTower Advisors LLC lifted its position in shares of Cameco by 20.8% in the 4th quarter. HighTower Advisors LLC now owns 358,084 shares of the basic materials company’s stock worth $32,761,000 after purchasing an additional 61,619 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCJ has been the subject of several research analyst reports. Glj Research reaffirmed a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Scotiabank reissued an “outperform” rating and set a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Finally, TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cameco presently has an average rating of “Moderate Buy” and a consensus target price of $153.13.

Cameco Stock Down 1.5%

NYSE:CCJ opened at $103.53 on Wednesday. The firm has a market cap of $45.09 billion, a P/E ratio of 95.86, a P/E/G ratio of 1.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. Cameco Corporation has a fifty-two week low of $51.46 and a fifty-two week high of $135.24. The firm has a 50-day simple moving average of $113.95 and a two-hundred day simple moving average of $107.18.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. Cameco’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.16 EPS. Analysts predict that Cameco Corporation will post 1.32 earnings per share for the current fiscal year.

Cameco 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.