Man Group plc Takes Position in Cameco Corporation $CCJ

Man Group plc acquired a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, Holdings Channel.com reports. The fund acquired 806,167 shares of the basic materials company’s stock, valued at approximately $82,117,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mcguire Capital Advisors Inc. acquired a new position in Cameco during the 4th quarter valued at about $28,000. Caitong International Asset Management Co. Ltd boosted its holdings 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 worth $28,000 after acquiring an additional 307 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in Cameco in the first quarter worth about $30,000. Sunbelt Securities Inc. grew its stake in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 325 shares during the last quarter. Finally, Brown Lisle Cummings Inc. grew its stake in shares of Cameco by 3,200.0% during the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 288 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Up 4.7%

Shares of CCJ stock opened at $107.03 on Wednesday. The stock’s 50-day simple moving average is $96.10 and its 200-day simple moving average is $107.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. The firm has a market capitalization of $46.61 billion, a PE ratio of 181.40, a P/E/G ratio of 1.75 and a beta of 1.05. Cameco Corporation has a fifty-two week low of $73.20 and a fifty-two week high of $135.24.

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

Wall Street Analysts Forecast Growth

CCJ has been the subject of several research analyst reports. Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Bank of America dropped their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Truist Financial upped their price target on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Citigroup reaffirmed a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Finally, Weiss Ratings cut shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Cameco has an average rating of “Moderate Buy” and an average price target of $145.68.

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.