Cameco Corporation $CCJ Stake Lowered by Addenda Capital Inc.

Addenda Capital Inc. cut its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 30.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 508,814 shares of the basic materials company’s stock after selling 220,713 shares during the period. Cameco makes up about 1.7% of Addenda Capital Inc.’s investment portfolio, making the stock its 17th largest holding. Addenda Capital Inc. owned about 0.12% of Cameco worth $37,769,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MetLife Investment Management LLC acquired a new stake in Cameco in the first quarter worth approximately $2,131,000. Northwest & Ethical Investments L.P. lifted its position in shares of Cameco by 50.0% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock valued at $1,750,000 after acquiring an additional 14,154 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its position in shares of Cameco by 41.6% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company’s stock valued at $1,663,000 after acquiring an additional 11,879 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in shares of Cameco by 74.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company’s stock valued at $2,017,000 after acquiring an additional 20,947 shares during the last quarter. Finally, Nicholson Meyer Capital Management Inc. acquired a new stake in shares of Cameco during the 1st quarter valued at $350,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Price Performance

Shares of CCJ stock opened at $85.52 on Friday. The stock has a 50 day moving average of $78.17 and a two-hundred day moving average of $62.93. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $89.13. The company has a market capitalization of $37.23 billion, a P/E ratio of 98.30 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.22. The firm had revenue of $467.72 million during the quarter, compared to analysts’ expectations of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company’s revenue for the quarter was up 46.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CCJ. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Tuesday, September 2nd. BMO Capital Markets restated an “outperform” rating on shares of Cameco in a report on Friday, August 29th. The Goldman Sachs Group increased their target price on Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. TD Securities restated a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. Finally, Wall Street Zen downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research note on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $89.55.

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.