PNC Financial Services Group Inc. Increases Stock Position in Cameco Corporation (NYSE:CCJ)

PNC Financial Services Group Inc. raised its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,237 shares of the basic materials company's stock after acquiring an additional 4,837 shares during the period. PNC Financial Services Group Inc.'s holdings in Cameco were worth $6,513,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Copia Wealth Management purchased a new position in Cameco during the 4th quarter valued at $39,000. Ameriflex Group Inc. bought a new stake in shares of Cameco during the 4th quarter valued at about $40,000. CoreCap Advisors LLC increased its position in shares of Cameco by 8,363.6% during the fourth quarter. CoreCap Advisors LLC now owns 931 shares of the basic materials company's stock valued at $48,000 after buying an additional 920 shares during the period. Private Trust Co. NA raised its stake in Cameco by 315.2% in the first quarter. Private Trust Co. NA now owns 1,229 shares of the basic materials company's stock worth $51,000 after buying an additional 933 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in Cameco in the first quarter worth about $57,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BMO Capital Markets reissued an "outperform" rating on shares of Cameco in a research report on Tuesday. Scotiabank reiterated an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the company an "outperform" rating in a research report on Tuesday, June 10th. TD Securities reaffirmed a "buy" rating on shares of Cameco in a research report on Tuesday. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. Twelve analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $82.65.

Cameco Stock Down 0.2%

Cameco stock traded down $0.17 during trading hours on Thursday, hitting $76.38. The stock had a trading volume of 3,329,693 shares, compared to its average volume of 4,875,499. The stock's 50-day moving average price is $71.68 and its 200-day moving average price is $55.04. The stock has a market capitalization of $33.25 billion, a P/E ratio of 87.79 and a beta of 1.06. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $80.32. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm's quarterly revenue was up 46.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. Equities research analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.