Fred Alger Management LLC Sells 1,584,093 Shares of Cameco Co. (NYSE:CCJ)

Fred Alger Management LLC lessened its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 94.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,166 shares of the basic materials company’s stock after selling 1,584,093 shares during the quarter. Fred Alger Management LLC’s holdings in Cameco were worth $4,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Frontier Capital Management Co. LLC raised its stake in Cameco by 1,283.3% in the 4th quarter. Frontier Capital Management Co. LLC now owns 196,205 shares of the basic materials company’s stock valued at $10,083,000 after acquiring an additional 182,021 shares during the period. FWL Investment Management LLC increased its stake in shares of Cameco by 5.4% in the fourth quarter. FWL Investment Management LLC now owns 106,596 shares of the basic materials company’s stock worth $5,478,000 after purchasing an additional 5,502 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Cameco by 6.8% during the 4th quarter. Deutsche Bank AG now owns 638,610 shares of the basic materials company’s stock valued at $32,818,000 after buying an additional 40,667 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in Cameco by 120.2% in the 4th quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock worth $115,398,000 after buying an additional 1,225,966 shares during the period. Finally, Drummond Knight Asset Management Pty Ltd purchased a new position in Cameco in the 4th quarter valued at approximately $4,757,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Up 3.1 %

Shares of CCJ opened at $50.76 on Friday. 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 $22.10 billion, a price-to-earnings ratio of 181.29 and a beta of 0.89. Cameco Co. has a 1 year low of $35.00 and a 1 year high of $62.55. The business’s 50 day simple moving average is $42.74 and its 200-day simple moving average is $48.97.

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

Analyst Ratings Changes

CCJ has been the topic of a number of analyst reports. StockNews.com lowered Cameco from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Desjardins assumed coverage on shares of Cameco in a report on Friday, April 4th. They set a “buy” rating on the stock. Sanford C. Bernstein initiated coverage on shares of Cameco in a research report on Tuesday, April 1st. They set an “outperform” rating and a $52.00 price target for the company. Finally, Stifel Nicolaus started coverage on Cameco in a research report on Wednesday, March 12th. They issued a “buy” rating on the stock. One equities research 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. According to data from MarketBeat.com, the company has an average 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.