K.J. Harrison & Partners Inc Takes $2.86 Million Position in Cameco Corporation $CCJ

Key Points

• K.J. Harrison & Partners acquired 28,107 Cameco shares worth approximately $2.86 million in the second quarter. Institutional investors own 70.21% of the stock, with BlackRock and Deutsche Bank also reporting substantial new positions.
• Analyst sentiment remains favorable overall: Cameco has a consensus “Moderate Buy” rating and an average price target of $145.68, though recent actions included both upgrades and downgrades.
• Cameco reported quarterly EPS of $0.13, missing the $0.26 consensus estimate, while revenue fell 6.8% year over year to $573.06 million. Shares recently opened at $98.59, well below their 12-month high of $135.24.

K.J. Harrison & Partners Inc acquired a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,107 shares of the basic materials company's stock, valued at approximately $2,859,000.

Several other large investors have also recently added to or reduced their stakes in CCJ. Lee Johnson Capital Management LLC acquired a new stake in Cameco during the 2nd quarter worth approximately $420,000. NINE MASTS CAPITAL Ltd purchased a new position in Cameco in the 2nd quarter valued at approximately $329,000. BlackRock Inc. acquired a new position in shares of Cameco in the second quarter worth $381,091,000. Dunhill Financial LLC purchased a new stake in shares of Cameco during the second quarter worth $39,000. Finally, Deutsche Bank AG purchased a new stake in shares of Cameco during the second quarter worth $106,487,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCJ has been the topic of several analyst reports. Truist Financial increased their price objective on Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Wall Street Zen lowered Cameco from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Barclays decreased their price objective on Cameco from $104.00 to $97.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 4th. Citigroup reissued a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Finally, Scotiabank reissued an "outperform" rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Cameco currently has a consensus rating of "Moderate Buy" and an average price target of $145.68.

Cameco Price Performance

Shares of CCJ opened at $98.59 on Tuesday. The firm has a market capitalization of $42.94 billion, a price-to-earnings ratio of 167.10, a PEG ratio of 1.67 and a beta of 1.05. The firm's fifty day simple moving average is $96.31 and its 200-day simple moving average is $108.24. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its 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 firm had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The business's revenue for the quarter was down 6.8% on a year-over-year basis. Equities analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal 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.

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