Massachusetts Financial Services Co. MA Grows Position in Cameco Corporation $CCJ

Massachusetts Financial Services Co. MA raised its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 7.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,755,802 shares of the basic materials company’s stock after purchasing an additional 202,279 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.63% of Cameco worth $231,102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Cameco by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,565,529 shares of the basic materials company’s stock valued at $1,304,504,000 after acquiring an additional 481,171 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after acquiring an additional 2,071,373 shares during the period. Norges Bank purchased a new stake in Cameco during the 2nd quarter valued at about $341,736,000. William Blair Investment Management LLC grew its stake in Cameco by 15.1% during the 2nd quarter. William Blair Investment Management LLC now owns 3,869,291 shares of the basic materials company’s stock valued at $287,217,000 after purchasing an additional 506,667 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Cameco by 20.7% in the second quarter. Geode Capital Management LLC now owns 3,372,878 shares of the basic materials company’s stock valued at $250,797,000 after purchasing an additional 578,393 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Performance

Shares of NYSE CCJ opened at $116.50 on Tuesday. The company has a market capitalization of $50.73 billion, a PE ratio of 135.47 and a beta of 1.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The company’s fifty day moving average price is $93.74 and its 200 day moving average price is $86.10. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $118.54.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The firm had revenue of $313.74 million during the quarter, compared to analysts’ expectations of $531.72 million. During the same period in the previous year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was down 14.7% on a year-over-year basis. On average, research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were issued a $0.24 dividend. This represents a yield of 27.0%. The ex-dividend date of this dividend was Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is currently 19.77%.

Wall Street Analyst Weigh In

CCJ has been the subject of a number of research reports. Royal Bank Of Canada decreased their target price on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. National Bankshares reissued an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating in a research note on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cameco in a report on Monday, December 29th. Finally, Glj Research reiterated a “buy” rating and issued a $99.74 price objective on shares of Cameco in a research note on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $121.68.

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.