Jennison Associates LLC Cuts Holdings in Cameco Corporation (NYSE:CCJ)

Jennison Associates LLC reduced its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 25.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,951 shares of the basic materials company's stock after selling 203,161 shares during the period. Jennison Associates LLC owned about 0.14% of Cameco worth $25,023,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CCJ. Country Club Bank boosted its holdings in shares of Cameco by 0.5% during the first quarter. Country Club Bank now owns 43,553 shares of the basic materials company's stock worth $1,822,000 after purchasing an additional 224 shares during the last quarter. Two Sigma Investments LP raised its position in Cameco by 0.5% in the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company's stock valued at $2,592,000 after purchasing an additional 238 shares during the period. Highview Capital Management LLC DE increased its position in shares of Cameco by 5.0% during the fourth quarter. Highview Capital Management LLC DE now owns 6,246 shares of the basic materials company's stock worth $321,000 after acquiring an additional 300 shares during the last quarter. MinichMacGregor Wealth Management LLC increased its position in shares of Cameco by 5.0% during the first quarter. MinichMacGregor Wealth Management LLC now owns 6,372 shares of the basic materials company's stock worth $262,000 after acquiring an additional 304 shares during the last quarter. Finally, Freedom Investment Management Inc. increased its position in shares of Cameco by 5.3% during the fourth quarter. Freedom Investment Management Inc. now owns 6,230 shares of the basic materials company's stock worth $320,000 after acquiring an additional 312 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Wall Street Analyst Weigh In

CCJ has been the subject of several research analyst reports. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the company an "outperform" rating in a report on Tuesday, June 10th. The Goldman Sachs Group upped their target price on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. UBS Group reiterated a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. Finally, Wall Street Zen upgraded Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $80.65.

Cameco Trading Up 1.4%

NYSE CCJ opened at $78.98 on Friday. The company has a market capitalization of $34.38 billion, a PE ratio of 197.45 and a beta of 1.03. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $80.05. The firm's fifty day simple moving average is $65.38 and its 200-day simple moving average is $52.53. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Cameco had a return on equity of 4.47% and a net margin of 7.50%. The business had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company's revenue for the quarter was up 24.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Cameco Corporation 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.

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