Brown Brothers Harriman & Co. Raises Stock Holdings in Cameco Co. (NYSE:CCJ)

Brown Brothers Harriman & Co. raised its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 548.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,784 shares of the basic materials company’s stock after buying an additional 1,509 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Cameco were worth $85,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CCJ. Massachusetts Financial Services Co. MA purchased a new position in Cameco during the 2nd quarter valued at about $73,125,000. CIBC Asset Management Inc lifted its holdings in shares of Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after purchasing an additional 1,386,639 shares during the last quarter. M&G PLC bought a new stake in shares of Cameco in the 3rd quarter worth approximately $66,227,000. King Luther Capital Management Corp purchased a new stake in shares of Cameco in the 2nd quarter worth approximately $32,740,000. Finally, Van ECK Associates Corp increased its position in Cameco by 48.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock valued at $75,691,000 after buying an additional 515,046 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

CCJ opened at $57.81 on Friday. The company’s 50-day simple moving average is $53.06 and its two-hundred day simple moving average is $48.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The stock has a market capitalization of $25.16 billion, a P/E ratio of 304.28 and a beta of 0.89. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $60.98.

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 analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, analysts predict that Cameco Co. will post 0.7 EPS for the current year.

Cameco Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Glj Research reissued a “buy” rating and issued a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Scotiabank decreased their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Finally, Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. One 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $66.56.

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.