Addenda Capital Inc. Grows Stake in Cameco Co. (NYSE:CCJ)

Addenda Capital Inc. grew its position in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO by 38.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 729,527 shares of the basic materials company's stock after purchasing an additional 201,673 shares during the quarter. Cameco comprises approximately 1.4% of Addenda Capital Inc.'s investment portfolio, making the stock its 21st biggest position. Addenda Capital Inc. owned about 0.17% of Cameco worth $30,027,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new stake in Cameco during the fourth quarter worth approximately $25,000. Hurley Capital LLC acquired a new stake in Cameco during the fourth quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Cameco during the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC acquired a new stake in Cameco during the fourth quarter worth approximately $33,000. Finally, Compass Planning Associates Inc bought a new stake in Cameco during the fourth quarter worth $36,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Up 0.6%

Cameco stock traded up $0.34 during mid-day trading on Thursday, reaching $60.29. The stock had a trading volume of 1,990,014 shares, compared to its average volume of 4,223,953. The firm has a market capitalization of $26.25 billion, a PE ratio of 215.32 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco Co. has a fifty-two week low of $35.00 and a fifty-two week high of $62.55. The stock's 50-day simple moving average is $47.27 and its 200-day simple moving average is $49.28.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. During the same period in the previous year, the firm earned $0.13 EPS. The firm's quarterly revenue was up 24.4% on a year-over-year basis. On average, sell-side analysts forecast that Cameco Co. will post 1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several recent analyst reports. Wall Street Zen upgraded Cameco from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Glj Research raised their price objective on Cameco from $62.76 to $75.68 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. Scotiabank reiterated an "outperform" rating on shares of Cameco in a report on Wednesday, May 14th. The Goldman Sachs Group initiated coverage on Cameco in a report on Tuesday, May 20th. They issued a "buy" rating and a $65.00 target price for the company. Finally, Sanford C. Bernstein initiated coverage on Cameco in a report on Tuesday, April 1st. They issued an "outperform" rating and a $52.00 target price for the company. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $70.53.

Cameco 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.