Avanza Fonder AB Reduces Position in Cameco Co. (NYSE:CCJ)

Avanza Fonder AB decreased its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 26.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 32,700 shares of the basic materials company’s stock after selling 11,900 shares during the quarter. Avanza Fonder AB’s holdings in Cameco were worth $1,346,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CCJ. Choreo LLC grew its holdings in shares of Cameco by 4.0% during the fourth quarter. Choreo LLC now owns 9,310 shares of the basic materials company’s stock worth $478,000 after buying an additional 357 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Cameco by 166.4% in the fourth quarter. Empowered Funds LLC now owns 42,813 shares of the basic materials company’s stock valued at $2,200,000 after purchasing an additional 26,742 shares during the period. Savant Capital LLC grew its holdings in shares of Cameco by 3.8% in the fourth quarter. Savant Capital LLC now owns 14,334 shares of the basic materials company’s stock valued at $737,000 after purchasing an additional 526 shares during the period. Leavell Investment Management Inc. grew its holdings in shares of Cameco by 0.9% in the fourth quarter. Leavell Investment Management Inc. now owns 54,150 shares of the basic materials company’s stock valued at $2,783,000 after purchasing an additional 500 shares during the period. Finally, Capital Advisors Inc. OK grew its holdings in shares of Cameco by 14.9% in the fourth quarter. Capital Advisors Inc. OK now owns 943,296 shares of the basic materials company’s stock valued at $48,476,000 after purchasing an additional 122,300 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. 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 report on Wednesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. Stifel Nicolaus assumed coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a “buy” rating for the company. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the company an “outperform” rating in a report on Tuesday. Finally, UBS Group reaffirmed a “buy” rating on shares of Cameco in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $75.70.

Cameco Trading Up 3.8%

NYSE CCJ opened at $66.28 on Thursday. The firm’s 50-day moving average is $49.54 and its two-hundred day moving average is $49.45. Cameco Co. has a 12 month low of $35.00 and a 12 month high of $68.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The stock has a market capitalization of $28.85 billion, a P/E ratio of 236.70 and a beta of 0.97.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The company had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 EPS. On average, sell-side analysts anticipate that Cameco Co. will post 1.27 earnings per share for the current year.

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.