Cameco Co. (NYSE:CCJ) Position Cut by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 24.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 245,364 shares of the basic materials company’s stock after selling 77,630 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Cameco worth $10,593,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Cameco by 21.6% in the third quarter. FMR LLC now owns 27,418,564 shares of the basic materials company’s stock valued at $1,087,629,000 after buying an additional 4,865,085 shares during the last quarter. Vanguard Group Inc. lifted its stake in Cameco by 1.5% in the third quarter. Vanguard Group Inc. now owns 15,548,514 shares of the basic materials company’s stock valued at $616,343,000 after buying an additional 236,212 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cameco by 6.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,422,754 shares of the basic materials company’s stock valued at $581,558,000 after buying an additional 869,404 shares during the last quarter. Morgan Stanley lifted its stake 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 buying an additional 428,310 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Cameco by 74.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,730,858 shares of the basic materials company’s stock valued at $227,365,000 after buying an additional 2,442,190 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CCJ. The Goldman Sachs Group began coverage on Cameco in a report on Monday, April 1st. They set a “buy” rating and a $55.00 price target on the stock. StockNews.com lowered Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. One equities research 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 company’s stock. Based on data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus price target of $62.75.

Cameco Price Performance

NYSE:CCJ opened at $48.41 on Monday. The business’s 50-day moving average price is $45.07 and its 200 day moving average price is $44.41. The firm has a market cap of $21.02 billion, a P/E ratio of 124.13 and a beta of 0.92. Cameco Co. has a 52-week low of $26.15 and a 52-week high of $52.64. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 0.17.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). The firm had revenue of $620.00 million for the quarter. Cameco had a return on equity of 4.60% and a net margin of 9.28%. As a group, sell-side analysts predict that Cameco Co. will post 1.37 earnings per share for the current fiscal year.

Cameco 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.