TimesSquare Capital Management LLC Invests $39.82 Million in Cameco Corporation $CCJ

Key Points

• TimesSquare Capital Management acquired 390,956 Cameco shares worth approximately $39.82 million, representing about 0.09% of the company. Institutional investors and hedge funds collectively own 70.21% of Cameco.
• Cameco reported quarterly earnings of $0.13 per share, missing the $0.26 consensus estimate, while revenue of $573.06 million was slightly below expectations and declined 6.8% year over year.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $145.68, well above the stock’s reported $98.59 price.

TimesSquare Capital Management LLC acquired a new position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 390,956 shares of the basic materials company's stock, valued at approximately $39,823,000. TimesSquare Capital Management LLC owned approximately 0.09% of Cameco as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCJ. Norges Bank acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $443,265,000. Marshall Wace LLP boosted its holdings in Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company's stock worth $160,343,000 after purchasing an additional 1,729,454 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Cameco during the second quarter worth $163,449,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Cameco by 14,338.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company's stock worth $101,744,000 after purchasing an additional 1,104,378 shares during the last quarter. Finally, Man Group plc grew its position in Cameco by 126.3% in the third quarter. Man Group plc now owns 1,698,728 shares of the basic materials company's stock valued at $142,455,000 after purchasing an additional 948,068 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Trading Up 0.9%

CCJ stock opened at $98.59 on Tuesday. Cameco Corporation has a one year low of $68.96 and a one year high of $135.24. The stock has a market cap of $42.94 billion, a price-to-earnings ratio of 167.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The company has a fifty day moving average price of $96.31 and a two-hundred day moving average price of $108.24. 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 (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). The company had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. Cameco's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. Equities analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of analyst reports. Truist Financial raised their price target on Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. 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. Royal Bank Of Canada lifted their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, June 29th. Sanford C. Bernstein restated an "outperform" rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Finally, Scotiabank reiterated an "outperform" rating and issued a $175.00 target price on shares of Cameco in a research note on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $145.68.

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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