Invesco Ltd. Cuts Stock Holdings in Cameco Co. (NYSE:CCJ)

Invesco Ltd. cut its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,672,281 shares of the basic materials company’s stock after selling 5,811 shares during the period. Invesco Ltd. owned about 0.61% of Cameco worth $137,329,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Cameco in the 4th quarter valued at about $188,595,000. FMR LLC grew its holdings in Cameco by 8.7% during the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock worth $1,163,942,000 after acquiring an additional 1,811,876 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Cameco by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after purchasing an additional 1,196,336 shares during the last quarter. AGF Management Ltd. raised its holdings in shares of Cameco by 54.2% in the 4th quarter. AGF Management Ltd. now owns 3,393,233 shares of the basic materials company’s stock valued at $174,433,000 after purchasing an additional 1,193,266 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Cameco by 35.9% during the 4th quarter. Wellington Management Group LLP now owns 2,590,976 shares of the basic materials company’s stock worth $133,151,000 after purchasing an additional 685,145 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Performance

Shares of Cameco stock opened at $40.81 on Friday. The firm’s fifty day simple moving average is $43.54 and its 200-day simple moving average is $50.00. Cameco Co. has a 12 month low of $35.00 and a 12 month high of $62.55. The stock has a market capitalization of $17.76 billion, a price-to-earnings ratio of 145.74 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. As a group, equities analysts forecast that Cameco Co. will post 1.27 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on CCJ. Desjardins began coverage on Cameco in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Stifel Nicolaus started coverage on Cameco in a report on Wednesday, March 12th. They issued a “buy” rating for the company. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Finally, StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, nine have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Cameco presently has an average rating of “Buy” and an average target price of $70.03.

Cameco Company 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.