Public Employees Retirement System of Ohio Makes New Investment in Cameco Corporation $CCJ

Public Employees Retirement System of Ohio purchased a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, HoldingsChannel reports. The institutional investor purchased 37,383 shares of the basic materials company’s stock, valued at approximately $3,809,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Corient Private Wealth LP purchased a new position in Cameco in the second quarter worth $5,344,000. Permanens Capital L.P. purchased a new stake in Cameco during the second quarter valued at about $17,500,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in Cameco during the second quarter worth about $4,614,258. Philadelphia Investment Partners LLC bought a new stake in Cameco during the second quarter worth about $146,000. Finally, Ausdal Financial Partners Inc. purchased a new position in shares of Cameco in the 2nd quarter worth about $510,000. Institutional investors own 70.21% of the company’s stock.

Cameco Trading Up 4.3%

Shares of CCJ stock opened at $100.56 on Friday. The business has a 50-day moving average of $95.33 and a 200 day moving average of $106.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. Cameco Corporation has a 1-year low of $74.63 and a 1-year high of $135.24. The stock has a market capitalization of $43.80 billion, a PE ratio of 170.44, a P/E/G ratio of 1.65 and a beta of 1.06.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The company had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. During the same period last year, the firm earned $0.71 earnings per share. Cameco’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CCJ shares. Barclays decreased their price objective on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 4th. Jefferies Financial Group started coverage on Cameco in a research note on Thursday. They issued a “buy” rating and a $138.00 target price for the company. 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. Citigroup reissued a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Finally, Bank of America lowered their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $145.09.

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.