TimesSquare Capital Management LLC Acquires Shares of 390,956 Cameco Corporation $CCJ

TimesSquare Capital Management LLC acquired a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, Holdings Channel reports. The firm acquired 390,956 shares of the basic materials company’s stock, valued at approximately $39,823,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CCJ. Mcguire Capital Advisors Inc. bought a new stake in shares of Cameco in the fourth quarter valued at about $28,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 307 shares in the last quarter. Sterling Capital Management LLC bought a new position in Cameco during the first quarter worth about $30,000. Sunbelt Securities Inc. raised its stake in Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 325 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its stake in Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. William Blair started coverage on shares of Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Truist Financial lifted their price target on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Barclays cut their price target on Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 4th. Scotiabank reissued an “outperform” rating and set a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Finally, Weiss Ratings lowered Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.68.

Cameco Trading Up 0.9%

CCJ opened at $98.59 on Tuesday. The stock has a market capitalization of $42.94 billion, a price-to-earnings ratio of 167.10, a P/E/G ratio of 1.67 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24. The company has a 50-day simple moving average of $96.31 and a 200 day simple moving average of $108.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same period in the prior year, the business earned $0.71 earnings per share. Cameco’s quarterly revenue was down 6.8% compared to the same quarter last year. Analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

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.