The Manufacturers Life Insurance Company Has $305.15 Million Holdings in Cameco Corporation $CCJ

The Manufacturers Life Insurance Company decreased its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 3.5% in the 1st quarter, Holdings Channel reports. 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’s holdings in Cameco were worth $305,146,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Cameco by 35.2% during the first 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 last quarter. Temasek Holdings Private Ltd acquired a new position in shares of Cameco in the first quarter valued at approximately $70,851,000. WCM Investment Management LLC acquired a new position in Cameco in the 1st quarter valued at approximately $35,342,000. Amova Asset Management Americas Inc. increased its position in Cameco by 37.7% in the 1st quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company’s stock valued at $56,788,000 after acquiring an additional 143,113 shares during the period. Finally, SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new position in shares of Cameco during the fourth quarter valued at $1,974,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CCJ. Scotiabank reiterated an “outperform” rating and set a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Weiss Ratings lowered Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Royal Bank Of Canada lifted their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Bank of America reduced their price target on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, William Blair started coverage on Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Cameco has an average rating of “Moderate Buy” and a consensus target price of $146.18.

Cameco Price Performance

Shares of NYSE CCJ opened at $89.29 on Tuesday. The company has a market capitalization of $38.89 billion, a PE ratio of 82.68, a P/E/G ratio of 1.39 and a beta of 1.02. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24. The firm has a fifty day simple moving average of $100.89 and a 200 day simple moving average of $110.48.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period in the previous year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Cameco Corporation will post 1.34 EPS for the current year.

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.