Man Group plc Acquires Shares of 806,167 Cameco Corporation $CCJ

Key Points

• Man Group acquired 806,167 Cameco shares during the second quarter, valued at approximately $82.1 million, giving it a 0.19% stake. Institutional investors collectively own 70.21% of Cameco.
• Cameco shares recently traded at $107.03, up 4.7%, but the company’s latest quarterly results missed expectations: EPS was $0.13 versus the $0.26 consensus, while revenue fell 6.8% year over year to $573.1 million.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $145.68, although ratings range from price-target increases and “outperform” calls to one recent “sell” downgrade.

Man Group plc bought a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 806,167 shares of the basic materials company's stock, valued at approximately $82,117,000. Man Group plc owned 0.19% of Cameco as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Temasek Holdings Private Ltd purchased a new stake in shares of Cameco in the first quarter valued at approximately $70,851,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Cameco by 35.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company's stock worth $58,187,000 after buying an additional 139,592 shares during the period. WCM Investment Management LLC bought a new position in shares of Cameco during the 1st quarter worth $35,342,000. Amova Asset Management Americas Inc. increased its stake in shares of Cameco by 37.7% during the first quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company's stock valued at $56,788,000 after buying an additional 143,113 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Cameco by 102.3% during the first quarter. Janus Henderson Group PLC now owns 155,427 shares of the basic materials company's stock valued at $16,883,000 after buying an additional 78,609 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Cameco Trading Up 4.7%

Shares of NYSE CCJ opened at $107.03 on Wednesday. Cameco Corporation has a 1-year low of $73.20 and a 1-year high of $135.24. The business has a fifty day moving average price of $96.10 and a 200 day moving average price of $107.18. The stock has a market capitalization of $46.61 billion, a P/E ratio of 181.40, a price-to-earnings-growth ratio of 1.75 and a beta of 1.05. 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 - Get Free Report) TSE: CCO last posted its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 10.20% and a return on equity of 7.59%. Cameco's revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. Equities research analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, June 29th. Citigroup restated a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Wall Street Zen cut shares of Cameco from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Sanford C. Bernstein reiterated an "outperform" rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Finally, Bank of America cut their price objective on shares of Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $145.68.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source