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

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the target of a significant 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 trading 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 sold short.

Institutional Investors Weigh In On Cameco

Large investors have recently bought and sold shares of the business. Heritage Wealth Management Inc. purchased a new position in shares of Cameco in the 2nd quarter worth $402,000. Sanctuary Advisors LLC bought a new position in shares of Cameco in the 2nd quarter valued at about $349,000. Gordian Capital Singapore Pte Ltd purchased a new position in Cameco in the second quarter worth about $202,000. Granite Bay Wealth Management LLC bought a new stake in Cameco during the second quarter worth approximately $273,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Cameco during the second quarter valued at approximately $542,000. Institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of analyst reports. Scotiabank lowered their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Bank of America upped their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, The Goldman Sachs Group raised their price target on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Cameco currently has a consensus rating of “Buy” and a consensus price target of $67.25.

Cameco Stock Performance

Shares of NYSE CCJ opened at $48.65 on Wednesday. The firm’s fifty day moving average is $41.63 and its two-hundred day moving average is $46.86. Cameco has a 52-week low of $35.18 and a 52-week high of $56.24. The company has a market cap of $21.17 billion, a P/E ratio of 124.74 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22.

Cameco (NYSE:CCJ) (TSE:CCO) last posted 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). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The firm had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Cameco’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, analysts anticipate that Cameco will post 0.91 EPS for the current fiscal year.

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.