Cameco Co. (NYSE:CCJ) Short Interest Update

Cameco Co. (NYSE:CCJ) (TSE:CCO) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 17,860,000 shares, a decline of 7.4% from the October 15th total of 19,290,000 shares. Based on an average trading volume of 4,320,000 shares, the days-to-cover ratio is currently 4.1 days. Approximately 4.1% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of equities analysts recently commented on CCJ shares. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank dropped their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Glj Research restated a “buy” rating and issued a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. One equities research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Trading Up 2.8 %

Shares of CCJ stock opened at $57.44 on Wednesday. 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 has a fifty-two week low of $35.43 and a fifty-two week high of $58.72. The company has a market cap of $25.00 billion, a PE ratio of 302.33 and a beta of 0.89. The stock’s fifty day moving average price is $50.11 and its two-hundred day moving average price is $48.41.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The business had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business’s revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. Equities analysts predict that Cameco will post 0.7 EPS for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.118 per share. This represents a yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. Cameco’s dividend payout ratio is currently 47.37%.

Institutional Trading of Cameco

A number of hedge funds have recently added to or reduced their stakes in CCJ. Vanguard Group Inc. lifted its stake in shares of Cameco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock valued at $689,306,000 after acquiring an additional 200,871 shares during the last quarter. Capital World Investors increased its holdings in Cameco by 1.6% in the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock worth $593,524,000 after purchasing an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Cameco by 3.2% in 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 purchasing an additional 202,157 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of Cameco by 6.8% during the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after purchasing an additional 265,196 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in shares of Cameco by 4.7% during the second quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company’s stock worth $192,622,000 after purchasing an additional 176,183 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.