Continuum Advisory LLC Acquires 31,349 Shares of Cameco Co. (NYSE:CCJ)

Continuum Advisory LLC increased its holdings in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO by 108,100.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,378 shares of the basic materials company's stock after buying an additional 31,349 shares during the quarter. Continuum Advisory LLC's holdings in Cameco were worth $1,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC increased its holdings in Cameco by 6.8% in the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company's stock worth $204,672,000 after acquiring an additional 265,196 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Cameco by 4.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company's stock valued at $192,622,000 after purchasing an additional 176,183 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Cameco by 58.0% during the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company's stock valued at $181,382,000 after buying an additional 1,386,639 shares in the last quarter. Cibc World Market Inc. lifted its stake in shares of Cameco by 3.7% during the 2nd quarter. Cibc World Market Inc. now owns 3,272,805 shares of the basic materials company's stock valued at $161,022,000 after buying an additional 117,722 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in Cameco by 16.9% in the 2nd quarter. National Bank of Canada FI now owns 2,634,371 shares of the basic materials company's stock worth $129,540,000 after buying an additional 381,176 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CCJ. National Bank Financial upgraded Cameco to a "strong-buy" rating in a research report on Tuesday, September 3rd. Janney Montgomery Scott upgraded Cameco to a "strong-buy" rating in a research note on Friday, October 4th. Glj Research reiterated a "buy" rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Finally, Scotiabank dropped their target price on shares of Cameco from $81.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $66.56.

Cameco Price Performance

Shares of NYSE CCJ traded down $1.10 during midday trading on Tuesday, reaching $56.42. 5,819,029 shares of the stock traded hands, compared to its average volume of 4,419,385. The company's 50 day moving average is $54.83 and its 200 day moving average is $49.24. Cameco Co. has a one year low of $35.43 and a one year high of $62.55. The stock has a market capitalization of $24.55 billion, a PE ratio of 296.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.40). The business had revenue of $721.00 million during the quarter, compared to analysts' expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business's quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. On average, equities research analysts anticipate that Cameco Co. will post 0.51 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. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.118 per share. The ex-dividend date is Wednesday, November 27th. This is an increase from Cameco's previous annual dividend of $0.09. This represents a yield of 0.22%. Cameco's dividend payout ratio is 57.89%.

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.