M&G Plc Invests $66.23 Million in Cameco Co. (NYSE:CCJ)

M&G Plc acquired a new position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,378,147 shares of the basic materials company’s stock, valued at approximately $66,227,000.

Other large investors have also modified their holdings of the company. Moody Lynn & Lieberson LLC purchased a new position in shares of Cameco during the 3rd quarter worth about $1,680,000. Tidal Investments LLC increased its position in Cameco by 15.5% during the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after purchasing an additional 2,683 shares in the last quarter. Country Club Bank acquired a new stake in Cameco during the 3rd quarter worth approximately $2,093,000. Van ECK Associates Corp increased its position in Cameco by 48.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock worth $75,691,000 after purchasing an additional 515,046 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Cameco during the 1st quarter worth approximately $30,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Down 0.2 %

Shares of NYSE:CCJ opened at $51.17 on Thursday. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $58.72. The company has a 50 day moving average of $47.77 and a two-hundred day moving average of $48.11. The company has a market capitalization of $22.27 billion, a price-to-earnings ratio of 118.99 and a beta of 0.89.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of research analyst reports. Scotiabank dropped their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Glj Research reissued a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Finally, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $66.56.

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.