Polar Asset Management Partners Inc. Invests $1.08 Million in Cameco Co. (NYSE:CCJ)

Polar Asset Management Partners Inc. bought a new position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 22,500 shares of the basic materials company’s stock, valued at approximately $1,075,000.

Several other hedge funds have also added to or reduced their stakes in CCJ. Thurston Springer Miller Herd & Titak Inc. increased its position in 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 buying an additional 238 shares during the period. First Horizon Advisors Inc. increased its position in Cameco by 84.2% during the third 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 during the period. LRI Investments LLC raised its stake in Cameco by 39.0% in the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 234 shares in the last quarter. JFS Wealth Advisors LLC boosted its holdings in Cameco by 130.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 550 shares during the period. Finally, Stone House Investment Management LLC grew its position in shares of Cameco by 1,360.0% during the 3rd quarter. Stone House Investment Management LLC now owns 1,022 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 952 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Trading Up 2.5 %

Shares of CCJ opened at $61.13 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $61.42. The firm has a market cap of $26.60 billion, a price-to-earnings ratio of 321.73 and a beta of 0.91. The business’s fifty day moving average is $54.37 and its 200-day moving average is $49.20.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s revenue was up 25.4% compared to the same quarter last year. Equities analysts anticipate that Cameco Co. will post 0.51 EPS for the current fiscal 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 dividend of $0.118 per share. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a dividend yield of 0.22%. Cameco’s dividend payout ratio (DPR) is 63.16%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CCJ. Scotiabank dropped their price target 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. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. Glj Research reissued a “buy” rating and set a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Finally, National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $66.56.

Cameco 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.