500,000 Shares in Cameco Corporation $CCJ Purchased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC acquired a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, Holdings Channel reports. The firm acquired 500,000 shares of the basic materials company’s stock, valued at approximately $50,930,000. Cameco comprises 1.6% of Pacific Heights Asset Management LLC’s holdings, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CCJ. Public Employees Retirement System of Ohio bought a new stake in shares of Cameco in the second quarter valued at approximately $3,809,000. Corient Private Wealth LP bought a new position in Cameco in the 2nd quarter worth approximately $5,344,000. Permanens Capital L.P. purchased a new position in Cameco in the 2nd quarter valued at approximately $17,500,000. Philadelphia Financial Management of San Francisco LLC purchased a new position in Cameco in the 2nd quarter valued at approximately $4,614,258,000. Finally, Philadelphia Investment Partners LLC bought a new stake in Cameco during the 2nd quarter valued at $146,000. Institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of analyst reports. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Citigroup reissued a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Truist Financial raised their target price on Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Bank of America reduced their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.68.

Cameco Stock Performance

NYSE:CCJ opened at $106.40 on Friday. The business’s 50-day moving average price is $96.13 and its two-hundred day moving average price is $107.12. Cameco Corporation has a twelve month low of $73.20 and a twelve month high of $135.24. The stock has a market cap of $46.34 billion, a P/E ratio of 180.34, a PEG ratio of 1.84 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to analysts’ expectations of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. As a group, equities analysts predict that Cameco Corporation will post 1.27 EPS 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.