Cameco Co. (NYSE:CCJ) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. lessened its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 15.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 707,733 shares of the basic materials company’s stock after selling 127,999 shares during the quarter. Cameco accounts for 1.7% of Addenda Capital Inc.’s investment portfolio, making the stock its 18th biggest position. Addenda Capital Inc.’s holdings in Cameco were worth $34,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of CCJ. Bornite Capital Management LP acquired a new position in shares of Cameco in the fourth quarter worth about $6,590,000. Tidal Investments LLC grew its holdings in Cameco by 15.5% in the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after buying an additional 2,683 shares in the last quarter. Eaton Financial Holdings Company LLC bought a new position in Cameco in the 4th quarter worth approximately $1,327,000. LRI Investments LLC bought a new position in Cameco in the 1st quarter worth approximately $30,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Cameco in the 1st quarter worth approximately $295,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CCJ shares. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Glj Research restated a “buy” rating and issued a $63.73 target price on shares of Cameco in a research report on Wednesday. The Goldman Sachs Group upped their target price on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, Bank of America upped their target price on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.71.

Cameco Price Performance

Shares of NYSE:CCJ traded up $0.64 on Wednesday, reaching $39.86. 3,027,789 shares of the company traded hands, compared to its average volume of 4,420,754. Cameco Co. has a fifty-two week low of $33.63 and a fifty-two week high of $56.24. The company’s 50 day moving average is $48.09 and its 200-day moving average is $47.21. The stock has a market capitalization of $17.35 billion, a PE ratio of 101.90 and a beta of 0.92. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 0.69.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. During the same quarter last year, the company posted ($0.01) EPS. Cameco’s revenue was up 24.1% on a year-over-year basis. As a group, analysts anticipate that Cameco Co. will post 1.06 earnings per share for the current fiscal year.

About Cameco

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.