Alliancebernstein L.P. Purchases 1,196,336 Shares of Cameco Co. (NYSE:CCJ)

Alliancebernstein L.P. grew its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 13.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,088,407 shares of the basic materials company’s stock after purchasing an additional 1,196,336 shares during the quarter. Alliancebernstein L.P.’s holdings in Cameco were worth $518,443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CCJ. Edmond DE Rothschild Holding S.A. grew its holdings in Cameco by 137.1% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 28,045 shares of the basic materials company’s stock worth $1,441,000 after acquiring an additional 16,219 shares during the period. Wellington Management Group LLP grew its stake in shares of Cameco by 35.9% during the fourth quarter. Wellington Management Group LLP now owns 2,590,976 shares of the basic materials company’s stock worth $133,151,000 after purchasing an additional 685,145 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Cameco by 19.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,781 shares of the basic materials company’s stock valued at $708,000 after purchasing an additional 2,226 shares during the last quarter. Hartree Partners LP acquired a new position in Cameco in the fourth quarter valued at about $3,546,000. Finally, Norges Bank bought a new position in Cameco during the fourth quarter worth about $188,595,000. 70.21% of the stock is owned by institutional investors.

Cameco Price Performance

Shares of CCJ opened at $41.83 on Monday. The company has a 50 day moving average of $46.42 and a 200-day moving average of $50.38. 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 stock has a market capitalization of $18.21 billion, a P/E ratio of 149.40 and a beta of 1.04. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The firm had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. As a group, equities research analysts forecast that Cameco Co. will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Stifel Nicolaus initiated coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a “buy” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. Finally, Glj Research boosted their target price on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating, seven 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 an average price target of $73.64.

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.