Cameco Corporation $CCJ Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 50.3% in the first quarter, HoldingsChannel.com reports. The fund owned 243,021 shares of the basic materials company’s stock after buying an additional 81,327 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cameco were worth $26,394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in CCJ. Norges Bank acquired a new stake in shares of Cameco during the 4th quarter worth approximately $443,265,000. Marshall Wace LLP boosted its position in Cameco by 7,481.3% during the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after purchasing an additional 1,729,454 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Cameco by 14,338.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after purchasing an additional 1,104,378 shares during the period. Man Group plc boosted its position in Cameco by 126.3% during the 3rd quarter. Man Group plc now owns 1,698,728 shares of the basic materials company’s stock valued at $142,455,000 after purchasing an additional 948,068 shares during the period. Finally, Corient Private Wealth LLC grew its stake in Cameco by 1,339.8% during the 4th quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock worth $88,247,000 after buying an additional 897,558 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Cameco Stock Performance

Shares of CCJ stock opened at $87.86 on Friday. Cameco Corporation has a 12-month low of $68.96 and a 12-month high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The firm has a market capitalization of $38.27 billion, a price-to-earnings ratio of 81.35, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The business has a 50 day simple moving average of $101.20 and a 200 day simple moving average of $110.50.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same quarter in the previous year, the business earned $0.16 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Cameco Corporation will post 1.34 EPS for the current year.

Analysts Set New Price Targets

CCJ has been the topic of several analyst reports. Bank of America dropped their target price on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Citigroup reaffirmed a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Finally, William Blair assumed coverage on shares of Cameco in a research report on Monday, April 20th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.18.

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.