The Manufacturers Life Insurance Company Purchases New Holdings in Cameco Corporation $CCJ

The Manufacturers Life Insurance Company purchased a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,649,251 shares of the basic materials company’s stock, valued at approximately $269,507,000.

A number of other hedge funds also recently modified their holdings of the company. Mcguire Capital Advisors Inc. bought a new position in shares of Cameco during the 4th quarter worth about $28,000. Caitong International Asset Management Co. Ltd increased its stake in Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 307 shares during the period. Sterling Capital Management LLC bought a new stake in Cameco in the first quarter valued at about $30,000. Sunbelt Securities Inc. raised its position in Cameco by 928.6% in the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 325 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its position in Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

CCJ has been the topic of a number of recent research reports. Citigroup reaffirmed a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Barclays dropped their target price on Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. Bank of America decreased their price target on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Scotiabank reiterated an “outperform” rating and issued a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Finally, Truist Financial increased their price objective on Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus price target of $145.68.

Cameco Stock Down 0.2%

Shares of CCJ opened at $102.26 on Tuesday. The company has a market capitalization of $44.54 billion, a P/E ratio of 173.32, a PEG ratio of 1.75 and a beta of 1.05. Cameco Corporation has a one year low of $73.20 and a one year high of $135.24. The business’s 50 day simple moving average is $96.12 and its 200-day simple moving average is $107.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same period in the prior year, the business earned $0.71 earnings per share. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, sell-side analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Company Profile

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.