Cameco Co. (NYSE:CCJ) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 28.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,987,526 shares of the basic materials company’s stock after acquiring an additional 437,921 shares during the period. The Manufacturers Life Insurance Company owned about 0.46% of Cameco worth $97,653,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in Cameco during the 1st quarter worth approximately $26,000. Lindbrook Capital LLC lifted its holdings in Cameco by 26.0% in the first quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 221 shares during the period. Larson Financial Group LLC boosted its position in shares of Cameco by 99.3% during the 1st quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 600 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Cameco during the 1st quarter worth $87,000. Finally, BNP Paribas purchased a new position in shares of Cameco in the 1st quarter valued at about $93,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

NYSE:CCJ opened at $47.98 on Friday. Cameco Co. has a 12-month low of $35.18 and a 12-month high of $56.24. The firm has a market cap of $20.88 billion, a price-to-earnings ratio of 123.01 and a beta of 0.90. The company’s 50-day moving average is $41.58 and its two-hundred day moving average is $46.61. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The firm had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s revenue was up 24.1% on a year-over-year basis. Research analysts expect that Cameco Co. will post 0.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CCJ shares. Scotiabank lowered their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Glj Research reissued a “buy” rating and issued a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Bank of America increased their price objective on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $67.25.

Cameco Profile

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.