Cameco Corporation $CCJ Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 21.1% in the fourth quarter, Holdings Channel reports. The fund owned 1,385,515 shares of the basic materials company’s stock after purchasing an additional 241,137 shares during the period. Bank of New York Mellon Corp’s holdings in Cameco were worth $126,761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CCJ. Bison Wealth LLC lifted its holdings in shares of Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after buying an additional 1,361 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of Cameco by 48.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cameco by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund acquired a new stake in shares of Cameco in the 2nd quarter valued at approximately $14,252,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Royal Bank Of Canada lifted their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Glj Research reaffirmed a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Barclays initiated coverage on Cameco in a report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective for the company. Finally, Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Stock Performance

Cameco stock opened at $103.52 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The stock has a fifty day moving average of $113.70 and a two-hundred day moving average of $108.47. The company has a market capitalization of $45.09 billion, a price-to-earnings ratio of 95.85, a PEG ratio of 1.75 and a beta of 0.99. Cameco Corporation has a fifty-two week low of $59.25 and a fifty-two week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. The company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.Cameco’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share. On average, analysts anticipate that Cameco Corporation will post 1.31 EPS for the current fiscal year.

Cameco Company 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.