Harvest Portfolios Group Inc. Invests $11.73 Million in Cameco Corporation $CCJ

Harvest Portfolios Group Inc. bought a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 139,799 shares of the basic materials company’s stock, valued at approximately $11,733,000.

Several other institutional investors have also recently added to or reduced their stakes in CCJ. Financial Consulate Inc. purchased a new position in Cameco in the third quarter valued at approximately $25,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Cameco by 110.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after buying an additional 182 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of Cameco in the 2nd quarter valued at $35,000. Creative Financial Designs Inc. ADV raised its stake in Cameco by 936.2% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 440 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Cameco in the third quarter valued at $37,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. UBS Group assumed coverage on Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 price target on the stock. Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Cameco has an average rating of “Moderate Buy” and a consensus price target of $143.03.

Cameco Stock Up 0.2%

Cameco stock opened at $118.36 on Friday. The stock has a 50 day moving average of $111.91 and a two-hundred day moving average of $94.75. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $135.24. The stock has a market capitalization of $51.55 billion, a price-to-earnings ratio of 122.02 and a beta of 0.99. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14.

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

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.