Addenda Capital Inc. Boosts Holdings in Cameco Corporation $CCJ

Addenda Capital Inc. increased its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 21.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 538,043 shares of the basic materials company’s stock after purchasing an additional 93,887 shares during the period. Cameco accounts for 1.8% of Addenda Capital Inc.’s holdings, making the stock its 18th biggest holding. Addenda Capital Inc. owned 0.12% of Cameco worth $49,226,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Financial Consulate Inc. purchased a new position in Cameco during the 3rd quarter valued at approximately $25,000. Nisa Investment Advisors LLC bought a new stake in Cameco in the 4th quarter worth approximately $25,000. Founders Capital Management bought a new stake in Cameco in the 4th quarter worth approximately $27,000. Strategic Advocates LLC bought a new stake in Cameco in the third quarter worth $28,000. Finally, Armstrong Advisory Group Inc. raised its stake in Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 182 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Trading Up 5.2%

Shares of NYSE CCJ opened at $115.96 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The business’s 50 day moving average price is $114.47 and its 200-day moving average price is $101.50. Cameco Corporation has a fifty-two week low of $36.03 and a fifty-two week high of $135.24. The company has a market cap of $50.51 billion, a price-to-earnings ratio of 119.55 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on CCJ. Canadian Imperial Bank of Commerce increased their price objective on shares of Cameco to $202.00 in a research report on Monday, March 9th. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and an average price target of $150.40.

Cameco Profile

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.