Desjardins Global Asset Management Inc. Reduces Position in Cameco Co. (NYSE:CCJ)

Desjardins Global Asset Management Inc. cut its position in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO by 30.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,075 shares of the basic materials company's stock after selling 43,978 shares during the period. Desjardins Global Asset Management Inc.'s holdings in Cameco were worth $4,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCJ. Morgan Stanley raised its position in Cameco by 5.8% in the third quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company's stock valued at $307,300,000 after purchasing an additional 428,310 shares during the period. Guardian Capital LP raised its position in Cameco by 40.7% in the third quarter. Guardian Capital LP now owns 864,304 shares of the basic materials company's stock valued at $34,451,000 after purchasing an additional 250,115 shares during the period. Foster Victor Wealth Advisors LLC purchased a new stake in Cameco in the fourth quarter valued at $3,956,000. Financial Insights Inc. purchased a new stake in Cameco in the third quarter valued at $1,942,000. Finally, Platinum Investment Management Ltd. raised its position in Cameco by 156.3% in the third quarter. Platinum Investment Management Ltd. now owns 3,089,235 shares of the basic materials company's stock valued at $122,605,000 after purchasing an additional 1,884,004 shares during the period. Institutional investors and hedge funds own 70.21% of the company's stock.

Analysts Set New Price Targets

CCJ has been the topic of several research analyst reports. Cantor Fitzgerald downgraded Cameco from a "buy" rating to a "neutral" rating in a report on Tuesday, December 19th. StockNews.com downgraded Cameco from a "hold" rating to a "sell" rating in a report on Thursday, April 4th. Finally, The Goldman Sachs Group initiated coverage on Cameco in a report on Monday, April 1st. They issued a "buy" rating and a $55.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $62.75.

Cameco Stock Down 0.3 %

NYSE CCJ traded down $0.14 during trading hours on Tuesday, hitting $48.18. 4,572,199 shares of the company were exchanged, compared to its average volume of 5,280,047. The company has a 50 day moving average of $43.65 and a two-hundred day moving average of $43.39. The company has a quick ratio of 0.97, a current ratio of 1.55 and a debt-to-equity ratio of 0.21. Cameco Co. has a 52-week low of $25.11 and a 52-week high of $52.64. The firm has a market cap of $20.92 billion, a price-to-earnings ratio of 80.30 and a beta of 0.92.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Thursday, February 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.06). The business had revenue of $620.00 million for the quarter. Cameco had a return on equity of 5.61% and a net margin of 13.97%. Equities research analysts anticipate that Cameco Co. will post 1.55 earnings per share for the current 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.