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

Key Points

• William Blair Investment Management LLC increased its stake in Cameco Corporation by 15.1%, now owning over 3.8 million shares valued at around $287 million.
• Several other institutional investors, including Vanguard Group Inc. and Alliancebernstein L.P., also raised their positions in Cameco, indicating growing investor confidence with 70.21% of the stock owned by institutions.
• Cameco's recent quarterly earnings exceeded expectations, reporting $0.51 per share against a predicted $0.29, contributing to a 46.7% year-over-year revenue growth.

William Blair Investment Management LLC lifted its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 15.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,869,291 shares of the basic materials company's stock after buying an additional 506,667 shares during the quarter. Cameco makes up 0.8% of William Blair Investment Management LLC's investment portfolio, making the stock its 23rd largest position. William Blair Investment Management LLC owned about 0.89% of Cameco worth $287,217,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Cameco by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company's stock worth $703,295,000 after acquiring an additional 300,088 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Cameco by 39.3% in the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock worth $578,226,000 after acquiring an additional 3,959,837 shares during the last quarter. AGF Management Ltd. boosted its position in shares of Cameco by 19.0% in the first quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock worth $166,206,000 after acquiring an additional 644,413 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Cameco by 20.6% in the first quarter. Ameriprise Financial Inc. now owns 3,048,732 shares of the basic materials company's stock worth $125,533,000 after acquiring an additional 521,492 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its position in shares of Cameco by 10.2% in the first quarter. Federation des caisses Desjardins du Quebec now owns 2,461,263 shares of the basic materials company's stock worth $101,154,000 after acquiring an additional 228,148 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Trading Down 4.8%

CCJ opened at $86.75 on Friday. The firm has a market capitalization of $37.77 billion, a P/E ratio of 99.71 and a beta of 0.99. The firm's 50 day moving average is $81.21 and its 200-day moving average is $67.35. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $97.79. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business's quarterly revenue was up 46.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. Analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research report on Friday, October 10th. President Capital raised shares of Cameco from a "neutral" rating to a "buy" rating in a research report on Monday, September 22nd. TD Securities reaffirmed a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $89.55.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.

Want to see what other hedge funds are holding CCJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.