Alliancebernstein L.P. Sells 2,544,576 Shares of Cameco Corporation $CCJ

Alliancebernstein L.P. cut its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 42.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,519,094 shares of the basic materials company’s stock after selling 2,544,576 shares during the quarter. Alliancebernstein L.P. owned about 0.81% of Cameco worth $295,111,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CCJ. Financial Consulate Inc. bought a new position in Cameco in the third quarter worth about $25,000. Armstrong Advisory Group Inc. grew its position in shares of Cameco by 110.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after buying an additional 182 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Cameco during the 2nd quarter worth approximately $35,000. Cullen Frost Bankers Inc. purchased a new stake in Cameco during the third quarter valued at approximately $37,000. Finally, Tobam lifted its position in Cameco by 389.1% during the third quarter. Tobam now owns 450 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 358 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CCJ shares. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Canadian Imperial Bank of Commerce increased their price objective on Cameco to $202.00 in a report on Monday, March 9th. Royal Bank Of Canada raised their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Glj Research reaffirmed a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.40.

Cameco Stock Performance

Shares of NYSE CCJ opened at $107.92 on Monday. The stock has a market cap of $47.00 billion, a price-to-earnings ratio of 111.26 and a beta of 0.98. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $135.24. The company has a 50 day simple moving average of $116.55 and a two-hundred day simple moving average of $97.94. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $874.57 million during the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. As a group, analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.