Renaissance Technologies LLC Takes $1.66 Million Position in Cameco Co. (NYSE:CCJ)

Renaissance Technologies LLC bought a new stake in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,300 shares of the basic materials company's stock, valued at approximately $1,660,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC grew its position in shares of Cameco by 8.7% during the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock worth $1,163,942,000 after purchasing an additional 1,811,876 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cameco by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company's stock valued at $862,997,000 after buying an additional 270,102 shares during the period. Alliancebernstein L.P. grew its position in Cameco by 13.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company's stock worth $518,443,000 after buying an additional 1,196,336 shares in the last quarter. Norges Bank acquired a new position in Cameco in the 4th quarter valued at $188,595,000. Finally, AGF Management Ltd. increased its position 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 purchasing an additional 1,193,266 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Up 2.8 %

CCJ traded up $1.27 during trading on Friday, reaching $46.78. 1,451,383 shares of the stock traded hands, compared to its average volume of 4,052,331. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The stock's 50-day moving average is $42.08 and its 200 day moving average is $49.28. Cameco Co. has a 12 month low of $35.00 and a 12 month high of $62.55. The stock has a market capitalization of $20.36 billion, a PE ratio of 166.93 and a beta of 1.04.

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

Wall Street Analysts Forecast Growth

CCJ has been the subject of several analyst reports. Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a research report on Wednesday, March 12th. Stifel Nicolaus started coverage on Cameco in a research note on Wednesday, March 12th. They set 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 report on Tuesday, March 4th. Desjardins began coverage on Cameco in a research report on Friday, April 4th. They set a "buy" rating for the company. Finally, Sanford C. Bernstein assumed coverage on Cameco in a research note on Tuesday, April 1st. They issued an "outperform" rating and a $52.00 price objective on the stock. One research 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 MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target 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.