Temasek Holdings Private Ltd Makes New Investment in Cameco Corporation $CCJ

Key Points

• Temasek Holdings disclosed a new position in Cameco during the first quarter, buying 652,342 shares worth about $70.9 million. The stake represented roughly 0.15% of the company.
• Other major institutional investors also held large positions in Cameco, including Vanguard, Capital World Investors, Van ECK Associates, Morgan Stanley, and Norges Bank. Overall, institutional investors own 70.21% of the stock.
• Cameco reported solid quarterly results, with EPS of $0.34 beating estimates and revenue of $607.5 million topping expectations. Analysts remain broadly constructive, with a Moderate Buy consensus and an average price target of $146.18.

Temasek Holdings Private Ltd bought a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 652,342 shares of the basic materials company's stock, valued at approximately $70,851,000. Temasek Holdings Private Ltd owned about 0.15% of Cameco at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock valued at $1,653,639,000 after buying an additional 258,193 shares in the last quarter. Capital World Investors lifted its holdings in shares of Cameco by 0.3% during the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company's stock worth $1,240,047,000 after buying an additional 41,430 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Cameco by 15.6% during the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company's stock worth $575,771,000 after buying an additional 849,188 shares in the last quarter. Morgan Stanley boosted its position in shares of Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company's stock valued at $455,468,000 after acquiring an additional 323,693 shares during the period. Finally, Norges Bank bought a new stake in shares of Cameco in the fourth quarter valued at about $443,265,000. Institutional investors own 70.21% of the company's stock.

Cameco Stock Up 4.5%

NYSE CCJ opened at $88.68 on Wednesday. The business has a fifty day moving average price of $102.56 and a two-hundred day moving average price of $110.73. The stock has a market capitalization of $38.62 billion, a PE ratio of 82.11, a PEG ratio of 1.39 and a beta of 1.02. Cameco Corporation has a fifty-two week low of $68.96 and a fifty-two week high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. During the same quarter last year, the company posted $0.16 EPS. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts expect that Cameco Corporation will post 1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Weiss Ratings lowered shares of Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Royal Bank Of Canada boosted their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, June 29th. Scotiabank restated an "outperform" rating and set a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. William Blair initiated coverage on shares of Cameco in a report on Monday, April 20th. They set an "outperform" rating on the stock. Finally, TD Securities cut shares of Cameco from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Cameco currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.18.

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.

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