MetLife Investment Management LLC Makes New $2.13 Million Investment in Cameco Corporation $CCJ

Key Points

• MetLife Investment Management LLC invested approximately $2.13 million in Cameco Corporation, acquiring 51,770 shares in the first quarter.
• Several other institutional investors have increased their stakes in Cameco, with ownership among these investors totaling 70.21% of the company's stock.
• Analysts generally have a positive outlook for Cameco, with three analysts rating it as a Strong Buy and a consensus price target set at $83.32.

MetLife Investment Management LLC purchased a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 51,770 shares of the basic materials company's stock, valued at approximately $2,131,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Manchester Capital Management LLC grew its position in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after buying an additional 300 shares during the period. Dagco Inc. acquired a new stake in shares of Cameco in the 1st quarter worth approximately $28,000. SVB Wealth LLC purchased a new position in Cameco in the 1st quarter valued at approximately $29,000. Copia Wealth Management acquired a new position in Cameco during the fourth quarter worth $39,000. Finally, Ameriflex Group Inc. purchased a new stake in Cameco during the fourth quarter worth $40,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a research report on Friday. Raymond James Financial restated an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Royal Bank Of Canada increased their price target on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group lifted their price objective on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Three research analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $83.32.

Cameco Price Performance

NYSE:CCJ opened at $77.54 on Tuesday. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $83.02. The firm has a market cap of $33.76 billion, a price-to-earnings ratio of 89.13 and a beta of 1.04. The company's 50-day moving average is $75.37 and its two-hundred day moving average is $58.09. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15.

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

About Cameco

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.

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