Bank of New York Mellon Corp Sells 44,948 Shares of Cameco Co. (NYSE:CCJ)

Bank of New York Mellon Corp reduced its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 778,747 shares of the basic materials company’s stock after selling 44,948 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.20% of Cameco worth $14,936,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its stake in shares of Cameco by 45,417.1% in the first quarter. FMR LLC now owns 98,317 shares of the basic materials company’s stock valued at $1,159,000 after buying an additional 98,101 shares during the period. First Trust Advisors LP bought a new stake in shares of Cameco in the first quarter valued at $446,000. Amundi Pioneer Asset Management Inc. raised its stake in shares of Cameco by 16.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 185,601 shares of the basic materials company’s stock valued at $2,189,000 after buying an additional 25,793 shares during the period. BlackRock Inc. raised its stake in shares of Cameco by 407.3% in the first quarter. BlackRock Inc. now owns 472,234 shares of the basic materials company’s stock valued at $7,844,000 after buying an additional 379,148 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Cameco by 17.4% in the first quarter. JPMorgan Chase & Co. now owns 1,500,895 shares of the basic materials company’s stock valued at $24,930,000 after buying an additional 222,936 shares during the period. Institutional investors and hedge funds own 60.11% of the company’s stock.

Cameco stock opened at $25.64 on Thursday. Cameco Co. has a 52 week low of $9.01 and a 52 week high of $26.57. The business has a 50-day simple moving average of $20.22 and a 200 day simple moving average of $19.08. The company has a quick ratio of 5.98, a current ratio of 7.94 and a debt-to-equity ratio of 0.20. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of -641.00 and a beta of 1.03.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Tuesday, July 27th. The basic materials company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.12). Cameco had a negative return on equity of 1.97% and a negative net margin of 1.50%. The business had revenue of $292.25 million for the quarter. On average, research analysts anticipate that Cameco Co. will post -0.14 earnings per share for the current year.

Several analysts have issued reports on the company. Canaccord Genuity boosted their target price on Cameco from C$27.00 to C$34.00 and gave the company a “buy” rating in a research note on Thursday, September 23rd. Zacks Investment Research upgraded Cameco from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 16th. TD Securities upgraded Cameco from a “hold” rating to a “buy” rating and set a C$35.00 price target for the company in a research report on Tuesday, September 28th. Scotiabank lifted their price target on Cameco from C$27.00 to C$35.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Raymond James lifted their price target on Cameco from C$29.00 to C$34.00 and gave the company an “outperform” rating in a research report on Friday, September 17th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $28.43.

Cameco Profile

Cameco Corp. engages in the provision of uranium. The company operates through the following segments: Uranium and Fuel Services. The Uranium segment involves the exploration for, mining, milling, purchase and sale of uranium concentrate. The Fuel Services segment involves the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services.

See Also: Initial Coin Offering (ICO)

Institutional Ownership by Quarter for Cameco (NYSE:CCJ)

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