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

Bank of New York Mellon Corp grew its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 owned approximately 0.33% of Cameco worth $154,100,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new stake in shares of Cameco in the 4th quarter valued at $25,000. Founders Capital Management acquired a new position in shares of Cameco during the 4th quarter valued at $27,000. Mcguire Capital Advisors Inc. bought a new position in Cameco during the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd boosted its stake in Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 307 shares in the last quarter. Finally, Sterling Capital Management LLC acquired a new stake in Cameco in the first quarter worth $30,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

CCJ opened at $85.61 on Monday. Cameco Corporation has a 1-year low of $68.96 and a 1-year high of $135.24. The company has a market cap of $37.28 billion, a price-to-earnings ratio of 79.27, a PEG ratio of 1.40 and a beta of 1.02. The company’s fifty day moving average price is $103.83 and its two-hundred day moving average price is $110.80. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share 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 for the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter last year, the firm earned $0.16 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts expect that Cameco Corporation will post 1.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CCJ shares. Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Scotiabank reissued an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Barclays reduced their target price on Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Truist Financial initiated coverage on Cameco in a research note on Monday, July 13th. They set a “buy” rating and a $129.00 price target on the stock. One investment 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.18.

About Cameco

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.