Bank of New York Mellon Corp Decreases Holdings in Cameco Corporation (CCJ)
Bank of New York Mellon Corp trimmed its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 19.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 400,187 shares of the basic materials company’s stock after selling 94,111 shares during the period. Bank of New York Mellon Corp owned approximately 0.10% of Cameco Corporation worth $3,642,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Cameco Corporation by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 8,981,534 shares of the basic materials company’s stock valued at $99,426,000 after acquiring an additional 251,704 shares during the period. Wellington Management Group LLP lifted its stake in Cameco Corporation by 1,990.6% during the 1st quarter. Wellington Management Group LLP now owns 6,283,068 shares of the basic materials company’s stock valued at $69,366,000 after acquiring an additional 5,982,525 shares during the period. Russell Investments Group Ltd. lifted its stake in Cameco Corporation by 22.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,850,916 shares of the basic materials company’s stock valued at $53,220,000 after acquiring an additional 1,068,516 shares during the period. TD Asset Management Inc. lifted its stake in Cameco Corporation by 3.7% during the 2nd quarter. TD Asset Management Inc. now owns 3,865,814 shares of the basic materials company’s stock valued at $35,154,000 after acquiring an additional 138,163 shares during the period. Finally, St. James Investment Company LLC lifted its stake in Cameco Corporation by 2.4% during the 2nd quarter. St. James Investment Company LLC now owns 1,256,288 shares of the basic materials company’s stock valued at $11,432,000 after acquiring an additional 29,558 shares during the period. Institutional investors and hedge funds own 56.53% of the company’s stock.
Several equities analysts recently issued reports on the stock. BidaskClub cut shares of Cameco Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Scotiabank cut shares of Cameco Corporation from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Cameco Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Royal Bank Of Canada assumed coverage on shares of Cameco Corporation in a research note on Thursday, June 29th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating on shares of Cameco Corporation in a research note on Tuesday, August 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $16.27.
Cameco Corporation (CCJ) opened at 9.32 on Friday. The company has a 50 day moving average of $9.88 and a 200 day moving average of $9.98. Cameco Corporation has a 1-year low of $7.41 and a 1-year high of $13.36. The firm’s market capitalization is $3.69 billion.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. Cameco Corporation had a positive return on equity of 2.59% and a negative net margin of 0.75%. The firm had revenue of $470.00 million during the quarter, compared to the consensus estimate of $383.81 million. During the same period last year, the company earned ($0.14) earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Analysts forecast that Cameco Corporation will post $0.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.0799 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.32 dividend on an annualized basis and a yield of 3.43%. This is an increase from Cameco Corporation’s previous quarterly dividend of $0.07. Cameco Corporation’s dividend payout ratio (DPR) is -1,066.31%.
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Cameco Corporation Company Profile
Cameco Corporation (Cameco) is a uranium producer. The Company is primarily engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Company operates through three segments: uranium, fuel services and NUKEM.
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