Pekin Hardy Strauss Inc. Decreases Stock Position in Cameco Corporation $CCJ

Pekin Hardy Strauss Inc. lowered its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 206,984 shares of the basic materials company’s stock after selling 23,526 shares during the quarter. Cameco accounts for about 1.7% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 4th largest position. Pekin Hardy Strauss Inc.’s holdings in Cameco were worth $17,358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Consulate Inc. bought a new stake in shares of Cameco during the 3rd quarter valued at $25,000. Armstrong Advisory Group Inc. increased its stake in Cameco by 110.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after buying an additional 182 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Cameco in the 3rd quarter worth $37,000. Tobam raised its holdings in Cameco by 389.1% during the third quarter. Tobam now owns 450 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 358 shares during the period. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Cameco during the second quarter worth about $35,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Up 2.3%

NYSE CCJ opened at $119.14 on Friday. The stock has a 50 day moving average price of $108.19 and a 200-day moving average price of $92.95. Cameco Corporation has a one year low of $35.00 and a one year high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.85 and a current ratio of 2.47. The company has a market capitalization of $51.89 billion, a P/E ratio of 122.83 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Cameco’s revenue was up 1.5% on a year-over-year basis. As a group, equities analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on CCJ shares. Glj Research reissued a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cameco in a report on Monday, December 29th. Wall Street Zen lowered shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and a consensus target price of $143.03.

About Cameco

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.