Cameco Co. (NYSE:CCJ) Sees Large Drop in Short Interest

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the recipient of a significant decline in short interest during 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. Approximately 4.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,260,000 shares, the days-to-cover ratio is presently 3.8 days.

Cameco Stock Up 0.6 %

Shares of CCJ traded up $0.28 during trading hours on Wednesday, reaching $48.47. The company’s stock had a trading volume of 1,800,859 shares, compared to its average volume of 5,232,251. The company has a 50 day moving average of $43.65 and a two-hundred day moving average of $43.39. The company has a quick ratio of 0.97, a current ratio of 1.55 and a debt-to-equity ratio of 0.21. The firm has a market cap of $21.05 billion, a price-to-earnings ratio of 80.32 and a beta of 0.92. Cameco has a 1-year low of $25.11 and a 1-year 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 the consensus estimate of $0.21 by ($0.06). The company 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%. As a group, research analysts predict that Cameco will post 1.55 EPS for the current fiscal year.

Institutional Trading of Cameco

A number of institutional investors have recently bought and sold shares of the company. Morgan Stanley lifted its position in Cameco by 5.8% in the third quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock worth $307,300,000 after purchasing an additional 428,310 shares during the period. Guardian Capital LP lifted its stake in Cameco by 40.7% during the third quarter. Guardian Capital LP now owns 864,304 shares of the basic materials company’s stock worth $34,451,000 after purchasing an additional 250,115 shares during the period. Foster Victor Wealth Advisors LLC acquired a new stake in Cameco during the fourth quarter valued at approximately $3,956,000. Financial Insights Inc. bought a new stake in shares of Cameco in the 3rd quarter valued at approximately $1,942,000. Finally, Platinum Investment Management Ltd. raised its holdings in shares of 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 buying an additional 1,884,004 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.