K.J. Harrison & Partners Inc Raises Stake in Cameco Corporation $CCJ

K.J. Harrison & Partners Inc increased its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 75.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,807 shares of the basic materials company’s stock after purchasing an additional 5,500 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Cameco were worth $1,390,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ariose Capital Management Ltd purchased a new position in Cameco in the first quarter valued at about $3,743,000. QRG Capital Management Inc. boosted its stake in shares of Cameco by 4.1% during the 1st quarter. QRG Capital Management Inc. now owns 3,414 shares of the basic materials company’s stock worth $371,000 after acquiring an additional 134 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock worth $387,000 after acquiring an additional 107 shares during the period. Moran Wealth Management LLC grew its holdings in shares of Cameco by 15.7% in the 1st quarter. Moran Wealth Management LLC now owns 40,994 shares of the basic materials company’s stock worth $4,452,000 after acquiring an additional 5,553 shares during the period. Finally, PFG Investments LLC raised its holdings in Cameco by 14.3% during the first quarter. PFG Investments LLC now owns 6,023 shares of the basic materials company’s stock worth $654,000 after purchasing an additional 754 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCJ. Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Royal Bank Of Canada increased their price target on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Weiss Ratings cut shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Canadian Imperial Bank of Commerce lifted their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Finally, William Blair assumed coverage on Cameco in a report on Monday, April 20th. They set an “outperform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.92.

Cameco Stock Down 0.2%

CCJ stock opened at $96.36 on Friday. The stock has a market capitalization of $41.97 billion, a P/E ratio of 89.22, a PEG ratio of 1.76 and a beta of 1.02. 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 one year low of $68.96 and a one year high of $135.24. The company has a 50 day moving average price of $109.26 and a two-hundred day moving average price of $110.53.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly 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 company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period in the previous year, the firm posted $0.16 EPS. Cameco’s revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts expect that Cameco Corporation will post 1.21 EPS for the current 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.