Cameco Corporation

New York Stock Exchange
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Slightly Bullish +15

Bank of New York Mellon Corp Purchases 33,322 Shares of Cameco ...

🏦 Bank of New York Mellon Corp increased its Cameco stake by 2.4% to 1,418,837 shares valued at $154.1 million.

📈 Bison Wealth LLC raised its position by 16.1%, now holding 21,448 shares worth $1.1 million.

📊 AQR Capital Management and Integrated Wealth Concepts increased stakes by 16.6% and 48.7% respectively in Q1.

🏛️ UBS Asset Management Americas raised its position by 11.9%, adding 64,512 shares to a total of 604,841.

🆕 NewGen Equity Long Short Fund initiated a new stake valued at approximately $14.25 million in Q2.

📉 Barclays reduced its price objective from $108.00 to $104.00 and set an 'equal weight' rating.

📉 TD Securities downgraded Cameco from 'strong-buy' to 'hold' in a report dated March 26th.

📉 Weiss Ratings lowered the company's rating from 'hold (c+)' to 'hold (c)' on June 4th.

🔼 Truist Financial initiated coverage with a 'buy' rating and a $129.00 price objective on July 13th.

📈 William Blair issued an 'outperform' rating upon starting coverage on April 20th.

💰 The stock currently trades at $85.61 with a market cap of $37.28 billion and a P/E ratio of 79.27.

📉 Cameco's share price is trading below its 50-day moving average of $103.83 and 200-day average of $110.80.

🛡️ The company maintains a robust balance sheet with a quick ratio of 2.09 and current ratio of 3.08.

⚖️ Institutional ownership stands at 70.21% across various hedge funds and asset managers.

🌍 Cameco operates uranium mining and processing properties primarily in Canada and the United States.

Bullish Signals
  • Bank of New York Mellon Corp increased its investment in Cameco by purchasing an additional 33,322 shares in Q1.
  • Bison Wealth LLC raised its stake by 16.1%, adding 2,975 shares to its portfolio.
  • AQR Capital Management increased its position by 16.6% by purchasing 1,361 additional shares.
  • Integrated Wealth Concepts significantly raised its position by 48.7%, acquiring 2,780 new shares.
  • UBS Asset Management Americas increased its stake by 11.9% with a purchase of 64,512 shares.
  • NewGen Equity Long Short Fund established a new investment in Cameco valued at $14.25 million.
  • Truist Financial initiated coverage with a 'buy' rating and set a price objective of $129.00.
  • William Blair issued an 'outperform' rating for the company upon starting coverage.
  • The company maintains a very strong liquidity position with a quick ratio of 2.09 and current ratio of 3.08.
  • Institutional ownership remains high at 70.21%, indicating continued interest from major investors.
Risk Factors
  • Barclays reduced its price objective for Cameco from $108.00 to $104.00 and downgraded the rating to 'equal weight'.
  • TD Securities downgraded Cameco from a 'strong-buy' rating to a 'hold' rating.
  • Weiss Ratings lowered the company's rating from 'hold (c+)' to 'hold (c)' in June.
  • The stock is currently trading at $85.61, which is significantly below its 50-day moving average of $103.83.
  • The share price is also trading well below its 200-day moving average of $110.80.
Full Analysis
Bank of New York Mellon Corp increased its holdings in Cameco Corporation (NYSE: CCJ) by 2.4% during the first quarter, purchasing an additional 33,322 shares. The fund's total stake now stands at 1,418,837 shares, valued at $154.1 million as of the latest reporting period. Several other institutional investors have also adjusted their positions in Cameco recently. Bison Wealth LLC raised its stake by 16.1% to own 21,448 shares worth $1.1 million, while AQR Capital Management and Integrated Wealth Concepts increased their holdings by 16.6% and 48.7% respectively. UBS Asset Management Americas also boosted its position significantly. Analyst sentiment regarding Cameco remains mixed with a consensus rating of 'Moderate Buy' and a target price of $146.18. While Barclays and TD Securities have downgraded their ratings or lowered price objectives, Truist Financial initiated coverage with a 'Buy' rating and a $129 target. The stock currently trades around $85.61, well below its 50-day moving average of $103.83. Cameco is a leading producer of uranium and yellowcake, serving the global nuclear power industry with operations primarily in Canada and the United States. The company maintains a strong balance sheet with a debt-to-equity ratio of 0.14 and institutional ownership standing at 70.21%.