Bank of New York Mellon Corp Reduces Position in Cameco Corporation (NYSE:CCJ)

Bank of New York Mellon Corp trimmed its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 20.5% in the 1st quarter, HoldingsChannel reports. The firm owned 1,515,642 shares of the basic materials company’s stock after selling 391,205 shares during the period. Bank of New York Mellon Corp’s holdings in Cameco were worth $62,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Cameco during the 4th quarter valued at approximately $188,595,000. FMR LLC lifted its holdings in Cameco by 8.7% during the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock valued at $1,163,942,000 after purchasing an additional 1,811,876 shares in the last quarter. Driehaus Capital Management LLC boosted its position in shares of Cameco by 120.2% in the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company’s stock worth $115,398,000 after purchasing an additional 1,225,966 shares during the period. Alliancebernstein L.P. increased its stake in shares of Cameco by 13.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock worth $518,443,000 after purchasing an additional 1,196,336 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Cameco by 35.9% in the fourth quarter. Wellington Management Group LLP now owns 2,590,976 shares of the basic materials company’s stock worth $133,151,000 after purchasing an additional 685,145 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Cameco Stock Up 2.6%

NYSE CCJ opened at $72.66 on Friday. The stock has a 50 day moving average price of $62.58 and a 200-day moving average price of $51.67. Cameco Corporation has a one year low of $35.00 and a one year high of $75.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70. The company has a market capitalization of $31.63 billion, a P/E ratio of 181.65 and a beta of 1.03.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a net margin of 7.50% and a return on equity of 4.47%. The business had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. During the same quarter last year, the business earned $0.13 EPS. Cameco’s revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, equities analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CCJ. Desjardins initiated coverage on shares of Cameco in a report on Friday, April 4th. They issued a “buy” rating for the company. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. Wall Street Zen raised Cameco from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Royal Bank Of Canada upped their price target on Cameco from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $80.65.

About Cameco

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.