M&G PLC Sells 40,395 Shares of Cameco Corporation $CCJ

Key Points

• M&G PLC cut its Cameco stake by 7.7%, selling 40,395 shares in the third quarter; it retained 482,659 shares valued at about $41.8 million.
• Institutional investors and hedge funds own 70.21% of Cameco. Several major investors, including Bank of America, Canada Pension Plan Investment Board and BlackRock, disclosed new positions.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $148.12. Cameco also declared an annual dividend of C$0.24 per share, according to the article.

M&G PLC reduced its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 7.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 482,659 shares of the basic materials company's stock after selling 40,395 shares during the period. M&G PLC owned approximately 0.11% of Cameco worth $41,832,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Bank of America Corp DE acquired a new position in shares of Cameco in the second quarter worth about $735,498,000. Canada Pension Plan Investment Board purchased a new stake in Cameco during the 2nd quarter worth approximately $420,346,000. BlackRock Inc. purchased a new stake in Cameco during the 2nd quarter worth approximately $381,091,000. Cibc World Market Inc. purchased a new stake in Cameco during the 2nd quarter worth approximately $354,022,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cameco in the 2nd quarter valued at approximately $301,990,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCJ has been the subject of several research analyst reports. Jefferies Financial Group started coverage on Cameco in a research note on Thursday, September 3rd. They set a "buy" rating and a $138.00 target price for the company. Citigroup restated a "positive" rating on shares of Cameco in a research note on Wednesday, July 15th. Zacks Research raised shares of Cameco from a "strong sell" rating to a "hold" rating in a report on Tuesday, November 3rd. Barclays reduced their price objective on shares of Cameco from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research note on Monday, November 2nd. Finally, Truist Financial decreased their price objective on shares of Cameco from $130.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $148.12.

Cameco Trading Up 5.5%

Shares of NYSE CCJ opened at $75.25 on Tuesday. The stock's 50 day moving average price is $86.77 and its two-hundred day moving average price is $102.92. Cameco Corporation has a 52-week low of $66.06 and a 52-week high of $135.24. The stock has a market capitalization of $32.77 billion, a P/E ratio of 114.01, a PEG ratio of 1.59 and a beta of 1.18. The company has a quick ratio of 2.10, a current ratio of 2.55 and a debt-to-equity ratio of 0.14.

Cameco Dividend Announcement

The company also recently declared an annual dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a dividend of C$0.24 per share. This represents a dividend yield of 22.0%. The ex-dividend date of this dividend is Monday, November 30th. Cameco's dividend payout ratio is currently 25.76%.

About Cameco

Want to see what other hedge funds are holding CCJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO.

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.