First Trust Advisors LP Acquires New Shares in Cameco Co. (NYSE:CCJ)

First Trust Advisors LP purchased a new position in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,598 shares of the basic materials company's stock, valued at approximately $390,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cameco during the 4th quarter worth approximately $188,595,000. FMR LLC grew its position in shares of Cameco by 8.7% in the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock valued at $1,163,942,000 after purchasing an additional 1,811,876 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Cameco by 13.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company's stock worth $518,443,000 after purchasing an additional 1,196,336 shares during the last quarter. AGF Management Ltd. increased its holdings in Cameco by 54.2% during 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 during the period. Finally, Wellington Management Group LLP boosted its position in shares of Cameco by 35.9% in 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 in the last quarter. 70.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CCJ. Glj Research upped their price target on Cameco from $62.76 to $75.68 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. Stifel Nicolaus assumed coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. Stifel Canada raised shares of Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Finally, Sanford C. Bernstein assumed coverage on shares of Cameco in a report on Tuesday, April 1st. They set an "outperform" rating and a $52.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $70.03.

Cameco Trading Up 1.6%

Cameco stock traded up $0.80 during mid-day trading on Tuesday, hitting $51.96. The company's stock had a trading volume of 4,566,657 shares, compared to its average volume of 4,091,787. Cameco Co. has a 12 month low of $35.00 and a 12 month high of $62.55. The stock has a market cap of $22.62 billion, a price-to-earnings ratio of 185.57 and a beta of 0.89. The business has a 50 day moving average price of $42.90 and a 200-day moving average price of $48.88. 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 - Get Free Report) TSE: CCO last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The firm had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. Cameco had a return on equity of 4.34% and a net margin of 5.39%. Cameco's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, analysts forecast that Cameco Co. will post 1.27 EPS for the current 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.