Bank of Nova Scotia Trust Co. Sells 310 Shares of Cameco Co. (NYSE:CCJ)

Bank of Nova Scotia Trust Co. cut its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,401 shares of the basic materials company’s stock after selling 310 shares during the quarter. Bank of Nova Scotia Trust Co.’s holdings in Cameco were worth $535,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Capital Research Global Investors bought a new position in shares of Cameco during the fourth quarter valued at $13,940,000. First Trust Advisors LP bought a new position in Cameco during the 4th quarter valued at about $390,000. Freedom Investment Management Inc. grew its stake in shares of Cameco by 5.3% in the fourth quarter. Freedom Investment Management Inc. now owns 6,230 shares of the basic materials company’s stock worth $320,000 after acquiring an additional 312 shares during the period. Fairfield Bush & CO. lifted its position in Cameco by 22.8% during the fourth quarter. Fairfield Bush & CO. now owns 29,734 shares of the basic materials company’s stock valued at $1,528,000 after purchasing an additional 5,518 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in Cameco by 3,057.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 643,535 shares of the basic materials company’s stock worth $33,046,000 after purchasing an additional 623,154 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Price Performance

Shares of Cameco stock opened at $41.12 on Friday. The stock’s 50-day simple moving average is $42.67 and its 200-day simple moving average is $49.74. The company has a market capitalization of $17.90 billion, a price-to-earnings ratio of 146.84 and a beta of 1.04. Cameco Co. has a 52 week low of $35.00 and a 52 week high of $62.55. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data 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. The firm had revenue of $845.54 million for the quarter, compared to analysts’ expectations of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. As a group, analysts expect that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.