Ameriprise Financial Inc. Decreases Stock Position in Cameco Co. (NYSE:CCJ)

Ameriprise Financial Inc. cut its stake in shares of Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO by 27.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,527,240 shares of the basic materials company's stock after selling 958,201 shares during the period. Ameriprise Financial Inc. owned about 0.58% of Cameco worth $129,963,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CCJ. Anson Funds Management LP bought a new position in shares of Cameco in the fourth quarter worth about $514,000. AXA S.A. raised its stake in Cameco by 433.8% during the 4th quarter. AXA S.A. now owns 20,194 shares of the basic materials company's stock worth $1,038,000 after acquiring an additional 16,411 shares during the period. Orion Resource Partners LP purchased a new position in Cameco during the fourth quarter valued at approximately $373,000. Keel Point LLC bought a new position in Cameco in the 4th quarter worth $277,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Cameco in the fourth quarter worth about $10,756,000. Institutional investors own 70.21% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CCJ. Stifel Nicolaus began coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. Desjardins assumed coverage on shares of Cameco in a report on Friday, April 4th. They set a "buy" rating for the company. StockNews.com lowered shares of Cameco from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Sanford C. Bernstein started coverage on Cameco in a report on Tuesday, April 1st. They issued an "outperform" rating and a $52.00 target price for the company. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Cameco currently has an average rating of "Buy" and a consensus price target of $70.03.

Cameco Stock Up 3.1 %

Cameco stock traded up $1.52 during midday trading on Friday, hitting $50.76. 5,164,521 shares of the company's stock were exchanged, compared to its average volume of 4,084,523. The firm has a 50-day moving average of $42.74 and a two-hundred day moving average of $48.93. Cameco Co. has a 12 month low of $35.00 and a 12 month high of $62.55. The company has a market cap of $22.10 billion, a PE ratio of 181.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Cameco had a return on equity of 4.34% and a net margin of 5.39%. The company had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. During the same quarter in the prior year, the company earned $0.13 EPS. The firm's quarterly revenue was up 24.4% on a year-over-year basis. As a group, analysts expect that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

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.