Bridgewater Associates LP Reduces Holdings in Cameco Co. (NYSE:CCJ)

Bridgewater Associates LP reduced its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 61.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 943,165 shares of the basic materials company’s stock after selling 1,535,323 shares during the period. Bridgewater Associates LP’s holdings in Cameco were worth $48,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Cameco by 8.7% in 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. grew its position in shares of Cameco by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company’s stock worth $862,997,000 after purchasing an additional 270,102 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Cameco by 13.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after buying an additional 1,196,336 shares in the last quarter. Norges Bank bought a new stake in shares of Cameco during the fourth quarter valued at approximately $188,595,000. Finally, AGF Management Ltd. lifted its holdings 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 buying an additional 1,193,266 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Up 1.1 %

NYSE CCJ opened at $41.28 on Tuesday. Cameco Co. has a 52 week low of $35.00 and a 52 week high of $62.55. The firm has a market capitalization of $17.97 billion, a price-to-earnings ratio of 147.43 and a beta of 1.04. 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 company has a fifty day moving average of $43.36 and a two-hundred day moving average of $49.97.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. On average, analysts predict that Cameco Co. will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CCJ. Desjardins started coverage on shares of Cameco in a research note on Friday, April 4th. They set a “buy” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research report on Tuesday, March 4th. Stifel Nicolaus initiated coverage on Cameco in a research report on Wednesday, March 12th. They issued a “buy” rating on the stock. Stifel Canada upgraded Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Finally, Glj Research upped their price objective on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $70.03.

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.