Jennison Associates LLC Buys 42,819 Shares of Cameco Co. (NYSE:CCJ)

Jennison Associates LLC increased its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 703,837 shares of the basic materials company’s stock after buying an additional 42,819 shares during the period. Jennison Associates LLC’s holdings in Cameco were worth $30,335,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CCJ. Morgan Stanley increased its stake in shares of Cameco by 5.8% during the third quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock valued at $307,300,000 after purchasing an additional 428,310 shares in the last quarter. Guardian Capital LP increased its stake in shares of Cameco by 40.7% during the third quarter. Guardian Capital LP now owns 864,304 shares of the basic materials company’s stock valued at $34,451,000 after purchasing an additional 250,115 shares in the last quarter. Foster Victor Wealth Advisors LLC bought a new position in shares of Cameco during the fourth quarter valued at approximately $3,956,000. Financial Insights Inc. bought a new position in shares of Cameco during the third quarter valued at approximately $1,942,000. Finally, Platinum Investment Management Ltd. increased its stake in shares of Cameco by 156.3% during the third quarter. Platinum Investment Management Ltd. now owns 3,089,235 shares of the basic materials company’s stock valued at $122,605,000 after purchasing an additional 1,884,004 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. The Goldman Sachs Group began coverage on shares of Cameco in a report on Monday, April 1st. They set a “buy” rating and a $55.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.75.

Cameco Trading Up 0.2 %

Shares of CCJ stock opened at $48.76 on Thursday. Cameco Co. has a 12-month low of $25.42 and a 12-month high of $52.64. The company has a current ratio of 1.55, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $44.15 and its 200 day moving average is $43.81. The stock has a market capitalization of $21.17 billion, a P/E ratio of 81.27 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.06). Cameco had a return on equity of 5.61% and a net margin of 13.97%. The company had revenue of $620.00 million during the quarter. Research analysts expect that Cameco Co. will post 1.55 earnings per share for the current year.

Cameco 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.