Bank of New York Mellon Corp Lowers Stock Position in Cameco Co. (NYSE:CCJ)

Bank of New York Mellon Corp lowered its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 4.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,096,735 shares of the basic materials company’s stock after selling 107,919 shares during the period. Bank of New York Mellon Corp’s holdings in Cameco were worth $103,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position in Cameco by 235.3% during the first quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock valued at $25,000 after buying an additional 400 shares during the period. LRI Investments LLC purchased a new position in Cameco during the first quarter valued at $26,000. Principal Securities Inc. purchased a new position in Cameco during the fourth quarter valued at $29,000. Lindbrook Capital LLC lifted its position in Cameco by 26.0% during the first quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock valued at $46,000 after buying an additional 221 shares during the period. Finally, Larson Financial Group LLC lifted its position in Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CCJ shares. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group raised their price target on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a report on Friday, June 7th. Glj Research restated a “buy” rating and set a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. Bank of America raised their price target on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Scotiabank reduced their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.37.

Cameco Price Performance

NYSE CCJ opened at $41.90 on Wednesday. Cameco Co. has a one year low of $35.18 and a one year high of $56.24. The stock has a 50-day moving average of $45.76 and a 200 day moving average of $46.77. The company has a market capitalization of $18.23 billion, a price-to-earnings ratio of 107.44 and a beta of 0.92. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.69 and a current ratio of 3.22.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business had revenue of $598.00 million during the quarter, compared to the consensus estimate of $756.00 million. During the same quarter in the previous year, the business posted ($0.01) earnings per share. Cameco’s quarterly revenue was up 24.1% compared to the same quarter last year. On average, sell-side analysts forecast that Cameco Co. will post 1.06 EPS for the current year.

Cameco Company 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.