Bank of New York Mellon Corp Sells 402,326 Shares of Cameco Co. (NYSE:CCJ)

Bank of New York Mellon Corp reduced its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 17.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,906,847 shares of the basic materials company’s stock after selling 402,326 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cameco were worth $97,993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCJ. CIBC Asset Management Inc raised its stake in shares of Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after acquiring an additional 1,386,639 shares during the last quarter. M&G PLC purchased a new stake in shares of Cameco during the third quarter valued at $66,227,000. Segra Capital Management LLC purchased a new position in shares of Cameco during the third quarter valued at approximately $53,013,000. Fred Alger Management LLC lifted its holdings in shares of Cameco by 99.7% during the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock valued at $80,249,000 after buying an additional 839,077 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Cameco by 44.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock valued at $102,737,000 after buying an additional 664,828 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cameco currently has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Up 1.3 %

Shares of CCJ stock opened at $44.04 on Monday. The stock has a 50 day moving average of $49.87 and a 200 day moving average of $49.98. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $62.55. The stock has a market cap of $19.17 billion, a P/E ratio of 157.27 and a beta of 0.94. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The company had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. As a group, sell-side analysts expect that Cameco Co. will post 1.27 EPS for the current year.

Cameco 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.