The Manufacturers Life Insurance Company Sells 103,220 Shares of Cameco Corporation $CCJ

Key Points

• The Manufacturers Life Insurance Company cut its Cameco position by 3.5%, selling 103,220 shares in the first quarter while retaining 2.81 million shares valued at approximately $305.1 million. Institutional investors collectively own 70.21% of the company.
• Cameco reported quarterly EPS of $0.34, exceeding the $0.29 consensus estimate, while revenue rose 7.1% year over year to $607.49 million. Analysts expect full-year EPS of $1.34.
• Despite the stock opening at $89.29—below its 50-day and 200-day moving averages—analysts maintain a “Moderate Buy” consensus rating with an average price target of $146.18.

The Manufacturers Life Insurance Company reduced its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 3.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,808,698 shares of the basic materials company's stock after selling 103,220 shares during the period. The Manufacturers Life Insurance Company owned about 0.64% of Cameco worth $305,146,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $443,265,000. Marshall Wace LLP increased its holdings in shares of Cameco by 7,481.3% during the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company's stock worth $160,343,000 after acquiring an additional 1,729,454 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Cameco by 14,338.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company's stock valued at $101,744,000 after acquiring an additional 1,104,378 shares during the period. Man Group plc raised its stake in Cameco by 126.3% in the 3rd quarter. Man Group plc now owns 1,698,728 shares of the basic materials company's stock valued at $142,455,000 after acquiring an additional 948,068 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in Cameco by 1,339.8% during the 4th quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company's stock valued at $88,247,000 after purchasing an additional 897,558 shares during the last quarter. Institutional investors own 70.21% of the company's stock.

Cameco Stock Up 1.6%

CCJ stock opened at $89.29 on Tuesday. Cameco Corporation has a 52 week low of $68.96 and a 52 week high of $135.24. The business has a 50-day simple moving average of $100.89 and a 200 day simple moving average of $110.48. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The company has a market cap of $38.89 billion, a PE ratio of 82.68, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same period in the prior year, the company posted $0.16 earnings per share. The business's revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts anticipate that Cameco Corporation will post 1.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. William Blair assumed coverage on shares of Cameco in a research report on Monday, April 20th. They issued an "outperform" rating on the stock. Barclays lowered their price target on shares of Cameco from $108.00 to $104.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 15th. Weiss Ratings cut Cameco from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 4th. Citigroup reiterated a "positive" rating on shares of Cameco in a research note on Wednesday, July 15th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $135.00 price target on shares of Cameco in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Cameco currently has an average rating of "Moderate Buy" and a consensus target price of $146.18.

Cameco 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.

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