PNC Financial Services Group Inc. Boosts Holdings in Cameco Corporation $CCJ

PNC Financial Services Group Inc. increased its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 50.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 243,021 shares of the basic materials company’s stock after purchasing an additional 81,327 shares during the quarter. PNC Financial Services Group Inc. owned 0.06% of Cameco worth $26,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CCJ. Norges Bank acquired a new position in Cameco in the 4th quarter worth $443,265,000. Marshall Wace LLP grew its stake in shares of Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after acquiring an additional 1,729,454 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cameco by 14,338.8% during the fourth 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 acquiring an additional 1,104,378 shares in the last quarter. Man Group plc increased its position in shares of Cameco by 126.3% during the third quarter. Man Group plc now owns 1,698,728 shares of the basic materials company’s stock worth $142,455,000 after acquiring an additional 948,068 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Cameco by 1,339.8% during the fourth quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock worth $88,247,000 after acquiring an additional 897,558 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada raised their price objective on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. William Blair assumed coverage on Cameco in a research note on Monday, April 20th. They set an “outperform” rating for the company. Truist Financial started coverage on shares of Cameco in a research report on Monday, July 13th. They set a “buy” rating and a $129.00 price target for the company. Finally, Citigroup restated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. One investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.18.

Cameco Stock Down 1.6%

NYSE:CCJ opened at $87.86 on Friday. The company 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. Cameco Corporation has a one year low of $68.96 and a one year high of $135.24. The stock has a 50-day simple moving average of $101.20 and a 200 day simple moving average of $110.50. 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 (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data 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. The firm had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.Cameco’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 earnings per share. Sell-side analysts predict that Cameco Corporation will post 1.34 EPS 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.