Massachusetts Financial Services Co. MA Purchases 664,828 Shares of Cameco Co. (NYSE:CCJ)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 44.7% during the 3rd quarter, Holdings Channel reports. The firm owned 2,151,105 shares of the basic materials company’s stock after purchasing an additional 664,828 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Cameco were worth $102,737,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Moody Lynn & Lieberson LLC acquired a new stake in shares of Cameco during the 3rd quarter worth approximately $1,680,000. Tidal Investments LLC boosted its stake in Cameco by 15.5% during the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after acquiring an additional 2,683 shares in the last quarter. Country Club Bank acquired a new stake in Cameco in the third quarter worth $2,093,000. Swiss National Bank increased its stake in Cameco by 0.9% in the third quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company’s stock valued at $62,892,000 after purchasing an additional 11,600 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Cameco by 48.1% during the third quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock valued at $75,691,000 after purchasing an additional 515,046 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on CCJ shares. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Scotiabank cut their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Glj Research restated a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Down 1.3 %

Shares of NYSE CCJ opened at $60.11 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The company has a market cap of $26.16 billion, a P/E ratio of 316.39 and a beta of 0.89. Cameco Co. has a 52 week low of $35.43 and a 52 week high of $60.98. The business has a 50-day simple moving average of $51.66 and a two-hundred day simple moving average of $48.69.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same period in the prior year, the firm posted $0.24 EPS. Cameco’s revenue was up 25.4% on a year-over-year basis. Research analysts anticipate that Cameco Co. will post 0.7 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.118 per share. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s dividend payout ratio (DPR) is currently 47.37%.

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.