M&G PLC Sells 40,395 Shares of Cameco Corporation $CCJ

M&G PLC lowered its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 482,659 shares of the basic materials company’s stock after selling 40,395 shares during the period. M&G PLC’s holdings in Cameco were worth $41,832,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE bought a new position in shares of Cameco during the second quarter valued at approximately $735,498,000. Canada Pension Plan Investment Board acquired a new stake in shares of Cameco during the 2nd quarter worth approximately $420,346,000. BlackRock Inc. bought a new stake in shares of Cameco in the 2nd quarter worth approximately $381,091,000. Cibc World Market Inc. bought a new stake in shares of Cameco in the 2nd quarter worth approximately $354,022,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cameco in the 2nd quarter worth approximately $301,990,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCJ. Zacks Research upgraded Cameco from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Jefferies Financial Group began coverage on Cameco in a research note on Thursday, September 3rd. They issued a “buy” rating and a $138.00 target price on the stock. Weiss Ratings raised shares of Cameco from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Citigroup reissued a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.12.

Cameco Stock Performance

CCJ opened at $75.25 on Tuesday. The company has a current ratio of 2.55, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $86.77 and its 200-day moving average is $102.92. The stock has a market cap of $32.77 billion, a PE ratio of 114.01, a price-to-earnings-growth ratio of 1.59 and a beta of 1.18. Cameco Corporation has a twelve month low of $66.06 and a twelve month high of $135.24.

Cameco Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a dividend of C$0.24 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a yield of 22.0%. Cameco’s payout ratio is presently 25.76%.

Cameco Company Profile