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

Massachusetts Financial Services Co. MA grew its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 44.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,151,105 shares of the basic materials company’s stock after acquiring an additional 664,828 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.49% of Cameco worth $102,737,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. LRI Investments LLC acquired a new stake in Cameco during the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Cameco by 71.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 238 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Cameco by 84.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 351 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in Cameco by 130.6% in the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 550 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Cameco by 68.8% during the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 642 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Cameco Stock Performance

NYSE:CCJ opened at $60.11 on Friday. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $60.98. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a market cap of $26.16 billion, a P/E ratio of 316.39 and a beta of 0.89. The stock’s 50-day moving average is $51.66 and its 200-day moving average is $48.69.

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

Cameco Increases Dividend

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

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.