William Blair Investment Management LLC purchased a new stake in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,858,735 shares of the basic materials company’s stock, valued at approximately $189,331,000. William Blair Investment Management LLC owned approximately 0.43% of Cameco at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Bison Wealth LLC grew its stake in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares in the last quarter. AQR Capital Management LLC lifted its position in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after acquiring an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after acquiring an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 64,512 shares in the last quarter. Finally, NewGen Equity Long Short Fund purchased a new position in Cameco in the 2nd quarter worth approximately $14,252,000. 70.21% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Barclays decreased their target price on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 4th. Citigroup reaffirmed a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Bank of America dropped their price target on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Truist Financial boosted their price objective on shares of Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.68.
Cameco Price Performance
Shares of NYSE CCJ opened at $102.55 on Friday. Cameco Corporation has a fifty-two week low of $72.75 and a fifty-two week high of $135.24. The business has a 50 day moving average price of $96.21 and a two-hundred day moving average price of $107.49. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The firm has a market cap of $44.66 billion, a PE ratio of 173.81, a price-to-earnings-growth ratio of 1.63 and a beta of 1.05.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last announced its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share. Sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.
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.
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