Cameco Co. (NYSE:CCJ) Short Interest Up 7.0% in September

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the recipient of a large increase in short interest in 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 daily volume of 3,960,000 shares, the days-to-cover ratio is currently 4.4 days. Approximately 4.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Cameco

Hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA acquired a new position in shares of Cameco during the second quarter worth about $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Cameco during the 1st quarter worth approximately $31,131,000. King Luther Capital Management Corp purchased a new stake in shares of Cameco in the second quarter valued at approximately $32,740,000. CIBC Asset Management Inc raised its position in Cameco by 24.3% in the fourth quarter. CIBC Asset Management Inc now owns 2,319,455 shares of the basic materials company’s stock worth $100,324,000 after acquiring an additional 452,973 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Cameco by 28.3% in the second quarter. The Manufacturers Life Insurance Company now owns 1,987,526 shares of the basic materials company’s stock valued at $97,653,000 after acquiring an additional 437,921 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CCJ shares. Bank of America lifted their price objective on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their target price on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Glj Research reaffirmed a “buy” rating and set a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. Finally, National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Cameco has an average rating of “Buy” and an average price target of $67.25.

Cameco Stock Up 1.2 %

CCJ stock traded up $0.55 during midday trading on Tuesday, reaching $48.31. 2,183,886 shares of the company were exchanged, compared to its average volume of 4,359,980. The stock’s 50-day simple moving average is $41.61 and its 200 day simple moving average is $46.80. Cameco has a 1-year low of $35.18 and a 1-year high of $56.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The company has a market cap of $21.02 billion, a price-to-earnings ratio of 123.36 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The business had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business’s revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) earnings per share. On average, equities analysts forecast that Cameco will post 0.91 earnings per share for the current 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.