Freedom Investment Management Inc. Increases Stake in Cameco Co. (NYSE:CCJ)

Freedom Investment Management Inc. lifted its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,230 shares of the basic materials company’s stock after buying an additional 312 shares during the period. Freedom Investment Management Inc.’s holdings in Cameco were worth $320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Cameco in the fourth quarter worth $188,595,000. FMR LLC boosted its holdings 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 valued at $1,163,942,000 after acquiring an additional 1,811,876 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Cameco by 13.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after purchasing an additional 1,196,336 shares during the last quarter. AGF Management Ltd. boosted its holdings in 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 last quarter. Finally, Wellington Management Group LLP raised its stake in Cameco by 35.9% during the 4th quarter. Wellington Management Group LLP now owns 2,590,976 shares of the basic materials company’s stock valued at $133,151,000 after buying an additional 685,145 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research report on Tuesday, March 4th. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Stifel Nicolaus began coverage on Cameco in a research note on Wednesday, March 12th. They issued a “buy” rating for the company. StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Sanford C. Bernstein began coverage on shares of Cameco in a report on Tuesday, April 1st. They issued an “outperform” rating and a $52.00 target price for the company. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $70.03.

Cameco Stock Down 3.5 %

Shares of NYSE:CCJ opened at $39.72 on Tuesday. 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 business’s 50 day moving average is $42.48 and its 200 day moving average is $49.66. The stock has a market cap of $17.29 billion, a P/E ratio of 141.86 and a beta of 1.04. Cameco Co. has a 52-week low of $35.00 and a 52-week high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The firm had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. Sell-side analysts predict that Cameco Co. will post 1.27 EPS 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.