Polar Asset Management Partners Inc. Increases Stock Holdings in Cameco Co. (NYSE:CCJ)

Polar Asset Management Partners Inc. increased its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 337.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,376 shares of the basic materials company’s stock after purchasing an additional 75,876 shares during the period. Polar Asset Management Partners Inc.’s holdings in Cameco were worth $4,742,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC grew its position in Cameco by 8.7% during the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock valued at $1,163,942,000 after acquiring an additional 1,811,876 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Cameco by 1.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company’s stock valued at $865,729,000 after acquiring an additional 190,337 shares during the period. Vanguard Group Inc. grew its position in Cameco by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company’s stock valued at $862,997,000 after acquiring an additional 270,102 shares during the period. Alliancebernstein L.P. grew its position in Cameco by 13.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after acquiring an additional 1,196,336 shares during the period. Finally, Norges Bank purchased a new stake in Cameco during the fourth quarter valued at about $188,595,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

CCJ opened at $51.57 on Friday. The stock has a fifty day moving average of $43.54 and a 200-day moving average of $48.90. The firm has a market capitalization of $22.45 billion, a P/E ratio of 184.18 and a beta of 0.89. Cameco Co. has a 12-month low of $35.00 and a 12-month high of $62.55. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Cameco had a return on equity of 4.34% and a net margin of 5.39%. The company had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. During the same period last year, the company posted $0.13 earnings per share. The company’s revenue was up 24.4% compared to the same quarter last year. Equities analysts forecast that Cameco Co. will post 1.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CCJ shares. Stifel Canada raised Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Sanford C. Bernstein started coverage on Cameco in a research report on Tuesday, April 1st. They set an “outperform” rating and a $52.00 price target for the company. StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research report on Tuesday. Desjardins initiated coverage on Cameco in a research note on Friday, April 4th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus initiated coverage on Cameco in a research note on Wednesday, March 12th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $70.03.

Cameco Company 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.