Cameco Co. (NYSE:CCJ) Stock Position Cut by Fred Alger Management LLC

Fred Alger Management LLC lowered its holdings in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO by 94.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,166 shares of the basic materials company's stock after selling 1,584,093 shares during the period. Fred Alger Management LLC's holdings in Cameco were worth $4,942,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new stake in Cameco in the 3rd quarter valued at about $38,000. Principal Financial Group Inc. boosted its position in shares of Cameco by 1,138.1% in the third quarter. Principal Financial Group Inc. now owns 267,431 shares of the basic materials company's stock worth $12,774,000 after acquiring an additional 245,831 shares during the last quarter. Miracle Mile Advisors LLC grew its holdings in Cameco by 5.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 8,845 shares of the basic materials company's stock valued at $455,000 after purchasing an additional 495 shares during the period. Floyd Financial Group LLC acquired a new position in Cameco during the fourth quarter worth approximately $922,000. Finally, Park Avenue Securities LLC increased its position in Cameco by 12.0% during the fourth quarter. Park Avenue Securities LLC now owns 5,573 shares of the basic materials company's stock worth $286,000 after purchasing an additional 598 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Performance

NYSE:CCJ traded up $0.80 during mid-day trading on Tuesday, hitting $51.96. The stock had a trading volume of 4,566,657 shares, compared to its average volume of 4,091,787. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a 50 day simple moving average of $42.90 and a 200-day simple moving average of $48.88. The stock has a market capitalization of $22.62 billion, a price-to-earnings ratio of 185.57 and a beta of 0.89. Cameco Co. has a 52 week low of $35.00 and a 52 week high of $62.55.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Cameco had a net margin of 5.39% and a return on equity of 4.34%. The business had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. During the same period last year, the firm posted $0.13 EPS. The business's quarterly revenue was up 24.4% on a year-over-year basis. On average, research analysts expect that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

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