William Blair Investment Management LLC Cuts Stake in Cameco Corporation $CCJ

William Blair Investment Management LLC reduced its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 31.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,638,033 shares of the basic materials company’s stock after selling 1,231,258 shares during the quarter. William Blair Investment Management LLC owned 0.61% of Cameco worth $221,225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CCJ. Vanguard Group Inc. lifted its position in Cameco by 1.3% during the third quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock valued at $1,493,978,000 after purchasing an additional 235,613 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after buying an additional 2,071,373 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Cameco by 116.7% in the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after acquiring an additional 2,489,207 shares during the period. Norges Bank purchased a new stake in Cameco during the second quarter valued at $341,736,000. Finally, Geode Capital Management LLC lifted its holdings in Cameco by 20.7% in the second quarter. Geode Capital Management LLC now owns 3,372,878 shares of the basic materials company’s stock valued at $250,797,000 after acquiring an additional 578,393 shares during the period. 70.21% of the stock is owned by institutional investors.

Cameco Price Performance

Shares of Cameco stock opened at $118.36 on Friday. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The firm has a market cap of $51.55 billion, a PE ratio of 122.02 and a beta of 0.99. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $135.24. The stock has a 50 day moving average of $111.91 and a 200 day moving average of $94.86.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. Cameco’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. On average, research analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen lowered shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group initiated coverage on shares of Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price for the company. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Sanford C. Bernstein reissued an “outperform” rating and set a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. Finally, Glj Research reiterated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.03.

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.