William Blair Investment Management LLC Invests $189.33 Million in Cameco Corporation $CCJ

William Blair Investment Management LLC purchased a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, Holdings Channel reports. The fund purchased 1,858,735 shares of the basic materials company’s stock, valued at approximately $189,331,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearstead Advisors LLC lifted its holdings in Cameco by 0.8% during the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after buying an additional 85 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after acquiring an additional 107 shares during the last quarter. Groupama Asset Managment raised its position in shares of Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after acquiring an additional 108 shares in the last quarter. S.A. Mason LLC raised its position in shares of Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 111 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its position in shares of Cameco by 3.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 114 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Cameco Price Performance

Shares of CCJ opened at $102.55 on Friday. The company has a market cap of $44.66 billion, a P/E ratio of 173.81, a PEG ratio of 1.63 and a beta of 1.05. The stock has a fifty day moving average price of $96.21 and a 200 day moving average price of $107.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. Cameco Corporation has a 12 month low of $72.75 and a 12 month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted 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). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same quarter in the previous year, the business posted $0.71 earnings per share. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on CCJ shares. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Bank of America dropped their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Scotiabank restated an “outperform” rating and issued a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Barclays lowered their price objective on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus target price of $145.68.

Cameco Profile

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.