The Manufacturers Life Insurance Company Sells 159,447 Shares of Cameco Corporation $CCJ

The Manufacturers Life Insurance Company cut its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,649,251 shares of the basic materials company’s stock after selling 159,447 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cameco were worth $269,507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. bought a new stake in shares of Cameco during the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Cameco by 30,700.0% during 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 during the last quarter. Sterling Capital Management LLC purchased a new position in Cameco during the first quarter valued at $30,000. Sunbelt Securities Inc. grew its stake in Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 325 shares in the last quarter. Finally, Brown Lisle Cummings Inc. increased its holdings in Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Cameco Trading Down 3.0%

Shares of NYSE CCJ opened at $97.41 on Friday. Cameco Corporation has a 1-year low of $77.53 and a 1-year high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. The business’s 50 day moving average is $95.29 and its two-hundred day moving average is $105.88. The stock has a market capitalization of $42.43 billion, a P/E ratio of 165.11, a PEG ratio of 1.72 and a beta of 1.06.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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 company had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.Cameco’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. As a group, research analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Analysts Set New Price Targets

CCJ has been the subject of several research reports. Royal Bank Of Canada increased their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Truist Financial boosted their target price on Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings cut Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Bank of America reduced their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Wall Street Zen upgraded Cameco from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.68.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world’s largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.