Short Interest in Cameco Co. (NYSE:CCJ) Grows By 7.0%

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 17,600,000 shares, an increase of 7.0% from the August 31st total of 16,450,000 shares. Based on an average trading volume of 3,960,000 shares, the short-interest ratio is currently 4.4 days. Approximately 4.1% of the company’s shares are short sold.

Institutional Trading of Cameco

A number of institutional investors have recently made changes to their positions in CCJ. Vanguard Group Inc. boosted its holdings in Cameco by 1.3% in the first quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after purchasing an additional 200,871 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cameco by 2.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock worth $593,967,000 after buying an additional 288,400 shares during the last quarter. Capital World Investors increased its position in Cameco by 1.6% during the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after acquiring an additional 215,741 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Cameco by 3.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after acquiring an additional 202,157 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in Cameco by 6.8% in the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after purchasing an additional 265,196 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CCJ shares. Scotiabank lowered their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Bank of America lifted their price target on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group increased their price objective on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Finally, National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $67.25.

Cameco Trading Up 1.9 %

NYSE CCJ opened at $48.65 on Wednesday. The stock has a market cap of $21.17 billion, a P/E ratio of 124.74 and a beta of 0.90. The stock’s fifty day moving average price is $41.63 and its 200-day moving average price is $46.86. Cameco has a 12 month low of $35.18 and a 12 month high of $56.24. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). The business had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) earnings per share. As a group, equities analysts forecast that Cameco will post 0.91 EPS for the current fiscal year.

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.