Addenda Capital Inc. Decreases Stock Position in Cameco Corporation $CCJ

Addenda Capital Inc. trimmed its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 12.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,156 shares of the basic materials company’s stock after selling 64,658 shares during the quarter. Cameco accounts for 1.4% of Addenda Capital Inc.’s holdings, making the stock its 20th largest holding. Addenda Capital Inc. owned about 0.10% of Cameco worth $37,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Cameco in the 2nd quarter valued at about $341,736,000. Alliancebernstein L.P. increased its stake in shares of Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock worth $578,226,000 after buying an additional 3,959,837 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after acquiring an additional 2,071,373 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Cameco by 215.7% in the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company’s stock worth $83,636,000 after acquiring an additional 1,387,797 shares during the last quarter. Finally, Temasek Holdings Private Ltd purchased a new position in Cameco in the first quarter worth approximately $55,513,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CCJ shares. CLSA started coverage on shares of Cameco in a research report on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Cameco in a research note on Monday, December 8th. BMO Capital Markets restated an “outperform” rating on shares of Cameco in a research note on Friday, August 29th. National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Finally, President Capital upgraded Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.25.

Cameco Stock Up 3.2%

CCJ opened at $87.58 on Friday. Cameco Corporation has a one year low of $35.00 and a one year high of $110.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The stock has a market capitalization of $38.13 billion, a P/E ratio of 101.84 and a beta of 1.07. The business’s 50-day simple moving average is $90.37 and its 200-day simple moving average is $80.82.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The firm had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.The company’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. Analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st were given a dividend of $0.24 per share. This represents a dividend yield of 27.0%. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date was Monday, December 1st. Cameco’s payout ratio is 19.77%.

Cameco Company 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.