Capital Research Global Investors Makes New $13.94 Million Investment in Cameco Co. (NYSE:CCJ)

Capital Research Global Investors purchased a new stake in shares of Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 271,122 shares of the basic materials company's stock, valued at approximately $13,940,000. Capital Research Global Investors owned about 0.06% of Cameco as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Cameco in the fourth quarter worth $188,595,000. FMR LLC grew its stake 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 worth $1,163,942,000 after acquiring an additional 1,811,876 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Cameco by 13.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company's stock worth $518,443,000 after acquiring an additional 1,196,336 shares during the last quarter. AGF Management Ltd. grew its stake in shares of Cameco by 54.2% in the fourth quarter. AGF Management Ltd. now owns 3,393,233 shares of the basic materials company's stock worth $174,433,000 after acquiring an additional 1,193,266 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Cameco by 35.9% in the fourth quarter. Wellington Management Group LLP now owns 2,590,976 shares of the basic materials company's stock worth $133,151,000 after acquiring an additional 685,145 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CCJ. Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. Stifel Nicolaus initiated coverage on Cameco in a research report on Wednesday, March 12th. They issued a "buy" rating for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. StockNews.com raised Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Desjardins initiated coverage on Cameco in a research report on Friday, April 4th. They issued a "buy" rating for the company. One investment 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 data from MarketBeat, Cameco currently has an average rating of "Buy" and an average target price of $70.03.

Cameco Price Performance

Shares of NYSE CCJ traded up $0.12 during midday trading on Friday, reaching $44.01. 2,340,884 shares of the company traded hands, compared to its average volume of 4,103,859. The stock's 50-day simple moving average is $42.05 and its 200-day simple moving average is $49.42. 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 Co. has a 12 month low of $35.00 and a 12 month high of $62.55. The firm has a market cap of $19.16 billion, a PE ratio of 157.18 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The business had revenue of $845.54 million during the quarter, compared to analysts' expectations of $1.09 billion. As a group, equities analysts anticipate that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

About Cameco

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.