Cameco Corporation $CCJ is Addenda Capital Inc.'s 8th Largest Position

Addenda Capital Inc. raised its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 31.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 721,749 shares of the basic materials company's stock after purchasing an additional 170,986 shares during the period. Cameco accounts for about 2.5% of Addenda Capital Inc.'s holdings, making the stock its 8th biggest position. Addenda Capital Inc. owned 0.17% of Cameco worth $73,517,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bison Wealth LLC grew its stake in Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after buying an additional 2,975 shares during the last quarter. AQR Capital Management LLC boosted its stake in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after purchasing an additional 1,361 shares during the period. Integrated Wealth Concepts LLC grew its position in Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock worth $349,000 after purchasing an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock worth $24,895,000 after purchasing an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund acquired a new position in Cameco in the second quarter valued at $14,252,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Scotiabank restated an "outperform" rating and issued a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Citigroup reaffirmed a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Finally, Barclays lowered their target price on Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 4th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.68.

Cameco Trading Up 0.1%

NYSE CCJ opened at $100.07 on Monday. The stock has a market capitalization of $43.58 billion, a P/E ratio of 169.61, a P/E/G ratio of 1.71 and a beta of 1.05. Cameco Corporation has a 52-week low of $73.20 and a 52-week high of $135.24. The firm has a 50-day moving average price of $96.00 and a 200 day moving average price of $106.98. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million during the quarter, compared to analysts' expectations of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. Cameco's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. Equities research analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

About Cameco

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.

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