Bank of New York Mellon Corp Purchases 33,322 Shares of Cameco Corporation $CCJ

Bank of New York Mellon Corp lifted its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,418,837 shares of the basic materials company’s stock after buying an additional 33,322 shares during the period. Bank of New York Mellon Corp’s holdings in Cameco were worth $154,100,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bison Wealth LLC raised its stake in 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 acquiring an additional 2,975 shares during the period. AQR Capital Management LLC increased its stake in shares of Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after purchasing an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cameco by 11.9% in the first 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 purchasing an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund purchased a new stake in shares of Cameco during the 2nd quarter valued at approximately $14,252,000. 70.21% of the stock is owned by institutional investors.

Cameco Stock Performance

NYSE:CCJ opened at $85.61 on Monday. The stock has a market cap of $37.28 billion, a P/E ratio of 79.27, a PEG ratio of 1.40 and a beta of 1.02. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $103.83 and its two-hundred day moving average price is $110.80. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its 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 net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same period in the previous year, the business posted $0.16 earnings per share. Cameco’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Cameco Corporation will post 1.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CCJ has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Weiss Ratings lowered Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Truist Financial began coverage on Cameco in a research note on Monday, July 13th. They set a “buy” rating and a $129.00 price objective on the stock. Finally, William Blair started coverage on Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.18.

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.