Man Group plc Sells 99,711 Shares of Cameco Corporation $CCJ

Man Group plc lowered its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,599,017 shares of the basic materials company’s stock after selling 99,711 shares during the quarter. Man Group plc’s holdings in Cameco were worth $146,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC bought a new position in shares of Cameco in the fourth quarter worth about $25,000. Founders Capital Management purchased a new stake in shares of Cameco in the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd boosted its position in Cameco by 30,700.0% during 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 acquiring an additional 307 shares in the last quarter. Strategic Advocates LLC bought a new stake in Cameco during the 3rd quarter valued at $28,000. Finally, Sunbelt Securities Inc. boosted its position in shares of Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

Cameco stock opened at $105.70 on Thursday. The firm’s fifty day moving average price is $112.82 and its 200 day moving average price is $109.66. The company has a market capitalization of $46.04 billion, a price-to-earnings ratio of 97.87, a price-to-earnings-growth ratio of 1.97 and a beta of 0.99. Cameco Corporation has a 12-month low of $67.60 and a 12-month high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, research analysts forecast that Cameco Corporation will post 1.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CCJ. Canadian Imperial Bank of Commerce raised their target price on Cameco to $202.00 in a research note on Monday, March 9th. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research report on Monday. Finally, Glj Research reissued a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Eleven investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $147.42.

About Cameco

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.