Bank of Nova Scotia Sells 707,827 Shares of Cameco Co. (NYSE:CCJ)

Bank of Nova Scotia reduced its stake in shares of Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO by 32.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,485,492 shares of the basic materials company's stock after selling 707,827 shares during the quarter. Bank of Nova Scotia owned 0.34% of Cameco worth $76,367,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CCJ. Sierra Ocean LLC bought a new position in Cameco in the 4th quarter valued at about $25,000. Hurley Capital LLC bought a new position in Cameco in the fourth quarter valued at approximately $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Cameco during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC bought a new stake in Cameco during the fourth quarter worth $33,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Cameco in the 4th quarter valued at $36,000. Institutional investors own 70.21% of the company's stock.

Cameco Trading Up 5.5 %

NYSE CCJ traded up $2.13 during mid-day trading on Friday, reaching $40.81. 4,789,609 shares of the stock were exchanged, compared to its average volume of 4,109,466. The stock has a 50 day simple moving average of $43.54 and a 200-day simple moving average of $50.01. Cameco Co. has a one year low of $35.00 and a one year high of $62.55. 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 cap of $17.76 billion, a P/E ratio of 145.74 and a beta of 1.04.

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Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The business had revenue of $845.54 million during the quarter, compared to analysts' expectations of $1.09 billion. On average, analysts anticipate that Cameco Co. will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com cut Cameco from a "hold" rating to a "sell" rating in a report on Wednesday, April 2nd. Royal Bank of Canada reiterated an "outperform" rating and set a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Sanford C. Bernstein began coverage on Cameco in a report on Tuesday, April 1st. They issued an "outperform" rating and a $52.00 target price for the company. Stifel Nicolaus assumed coverage on Cameco in a research note on Wednesday, March 12th. They set a "buy" rating on the stock. Finally, Desjardins began coverage on shares of Cameco in a report on Friday, April 4th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $70.03.

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.