The Manufacturers Life Insurance Company Sells 159,447 Shares of Cameco Corporation $CCJ

Key Points

• The Manufacturers Life Insurance Company reduced its Cameco stake by 5.7%, selling 159,447 shares and retaining 2.65 million shares valued at approximately $269.5 million. Institutional investors collectively own 70.21% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and five Holds, resulting in a “Moderate Buy” consensus and an average price target of $148.68. Recent targets ranged from $97 to $175.
• Cameco reported quarterly EPS of $0.13, missing the $0.26 consensus estimate, while revenue of $573.1 million fell 6.8% year over year. Shares opened at $97.41, versus a 52-week range of $77.53 to $135.24.

The Manufacturers Life Insurance Company trimmed its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,649,251 shares of the basic materials company's stock after selling 159,447 shares during the period. The Manufacturers Life Insurance Company owned 0.61% of Cameco worth $269,507,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Mcguire Capital Advisors Inc. bought a new stake in Cameco during the 4th quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Cameco by 30,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 307 shares during the period. Sterling Capital Management LLC purchased a new position in shares of Cameco in the 1st quarter valued at approximately $30,000. Sunbelt Securities Inc. boosted its position in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 325 shares in the last quarter. Finally, Brown Lisle Cummings Inc. boosted its position in shares of Cameco by 3,200.0% during the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 288 shares in the last quarter. Institutional investors own 70.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CCJ shares. Barclays lowered their price objective on Cameco from $104.00 to $97.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Cameco from a "sell" rating to a "hold" rating in a research report on Saturday, September 5th. Truist Financial increased their price target on shares of Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Royal Bank Of Canada boosted 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. Finally, Weiss Ratings cut shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Cameco has an average rating of "Moderate Buy" and an average target price of $148.68.

Cameco Price Performance

Shares of CCJ opened at $97.41 on Friday. Cameco Corporation has a 1-year low of $77.53 and a 1-year high of $135.24. The firm has a fifty day simple moving average of $95.29 and a two-hundred day simple moving average of $105.88. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The firm has a market cap of $42.43 billion, a PE ratio of 165.11, a P/E/G ratio of 1.72 and a beta of 1.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). The firm had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. On average, equities analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world's largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.

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.