Cameco Co. (NYSE:CCJ) Short Interest Update

Cameco Co. (NYSE:CCJ) (TSE:CCO) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 20,020,000 shares, a decline of 8.2% from the March 15th total of 21,800,000 shares. Based on an average daily volume of 5,260,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 4.6% of the company’s shares are short sold.

Cameco Stock Up 0.6 %

Shares of CCJ traded up $0.28 during trading hours on Wednesday, reaching $48.47. The stock had a trading volume of 1,800,859 shares, compared to its average volume of 5,232,251. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of 80.32 and a beta of 0.92. The firm has a 50-day simple moving average of $43.65 and a 200 day simple moving average of $43.39. The company has a current ratio of 1.55, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. Cameco has a 12 month low of $25.11 and a 12 month high of $52.64.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, February 8th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). The business had revenue of $620.00 million during the quarter. Cameco had a net margin of 13.97% and a return on equity of 5.61%. Equities research analysts predict that Cameco will post 1.55 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its stake in Cameco by 5.8% during the 3rd quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock valued at $307,300,000 after acquiring an additional 428,310 shares in the last quarter. Guardian Capital LP raised its holdings in shares of Cameco by 40.7% in the third quarter. Guardian Capital LP now owns 864,304 shares of the basic materials company’s stock valued at $34,451,000 after purchasing an additional 250,115 shares during the last quarter. Foster Victor Wealth Advisors LLC bought a new position in shares of Cameco during the fourth quarter valued at about $3,956,000. Financial Insights Inc. bought a new stake in Cameco in the 3rd quarter worth about $1,942,000. Finally, Platinum Investment Management Ltd. grew its position in Cameco by 156.3% in the 3rd quarter. Platinum Investment Management Ltd. now owns 3,089,235 shares of the basic materials company’s stock worth $122,605,000 after purchasing an additional 1,884,004 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CCJ. The Goldman Sachs Group started coverage on Cameco in a report on Monday, April 1st. They issued a “buy” rating and a $55.00 target price for the company. Cantor Fitzgerald downgraded shares of Cameco from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 19th. Finally, StockNews.com lowered shares of Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.75.

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.