The Manufacturers Life Insurance Company Acquires 26,075 Shares of Cameco Corporation $CCJ

Key Points

• The Manufacturers Life Insurance Company has increased its stake in Cameco Corporation by 1.2%, holding approximately 2.15 million shares valued at $88.9 million.
• Analysts have generally positive outlooks for Cameco, with several maintaining "buy" ratings and Goldman Sachs raising its target price from $65 to $78.
• Cameco reported a significant earnings increase for the last quarter, with a 46.7% revenue growth year-over-year, and earnings per share of $0.51, surpassing expectations.

The Manufacturers Life Insurance Company increased its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 1.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,148,544 shares of the basic materials company's stock after acquiring an additional 26,075 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.49% of Cameco worth $88,917,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Canada Pension Plan Investment Board increased its position in shares of Cameco by 215.7% in the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock worth $83,636,000 after acquiring an additional 1,387,797 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Cameco by 120.2% during the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock valued at $115,398,000 after purchasing an additional 1,225,966 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Cameco during the 1st quarter valued at about $29,290,000. AGF Management Ltd. lifted its stake in Cameco by 19.0% in the first quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock valued at $166,206,000 after acquiring an additional 644,413 shares during the last quarter. Finally, Covea Finance lifted its stake in shares of Cameco by 52.8% in the 1st quarter. Covea Finance now owns 1,665,979 shares of the basic materials company's stock valued at $68,572,000 after purchasing an additional 575,393 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company's stock.

Analysts Set New Price Targets

CCJ has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Glj Research reaffirmed a "buy" rating and issued a $75.27 price target on shares of Cameco in a report on Thursday, June 12th. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Royal Bank Of Canada upped their target price on Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Raymond James Financial restated an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. Two analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $83.32.

Cameco Price Performance

Shares of NYSE:CCJ traded up $1.70 during trading on Wednesday, reaching $77.12. The stock had a trading volume of 3,281,575 shares, compared to its average volume of 4,726,155. The business's 50-day moving average price is $75.43 and its 200 day moving average price is $58.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $83.02. The stock has a market capitalization of $33.58 billion, a PE ratio of 88.64 and a beta of 1.04.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. During the same period in the previous year, the business posted $0.14 earnings per share. The firm's revenue for the quarter was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Company 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.