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

Cameco Co. (NYSE:CCJ) (TSE:CCO) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 21,370,000 shares, an increase of 6.7% from the March 31st total of 20,020,000 shares. Approximately 4.9% of the shares of the company are short sold. Based on an average trading volume of 4,840,000 shares, the days-to-cover ratio is currently 4.4 days.

Cameco Trading Up 1.2 %

NYSE CCJ opened at $47.50 on Thursday. The stock’s 50-day moving average is $44.76 and its 200-day moving average is $44.20. Cameco has a one year low of $26.15 and a one year high of $52.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 0.97. The firm has a market cap of $20.62 billion, a P/E ratio of 120.31 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, February 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.06). The company had revenue of $620.00 million for the quarter. Cameco had a return on equity of 4.61% and a net margin of 9.28%. Sell-side analysts anticipate that Cameco will post 1.54 earnings per share for the current fiscal year.

Institutional Trading of Cameco

A number of hedge funds and other institutional investors have recently modified their holdings of CCJ. BNP Paribas bought a new stake in Cameco during the first quarter worth $93,000. Hollencrest Capital Management lifted its position in shares of Cameco by 102.9% in the first quarter. Hollencrest Capital Management now owns 40,825 shares of the basic materials company’s stock valued at $1,769,000 after buying an additional 20,705 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Cameco during the 1st quarter valued at $1,776,000. PDS Planning Inc lifted its stake in shares of Cameco by 5.1% during the 1st quarter. PDS Planning Inc now owns 6,840 shares of the basic materials company’s stock worth $296,000 after buying an additional 329 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Cameco by 2.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock valued at $593,967,000 after buying an additional 288,400 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CCJ shares. The Goldman Sachs Group assumed coverage on shares of Cameco in a research note on Monday, April 1st. They set a “buy” rating and a $55.00 price objective on the stock. StockNews.com lowered shares of Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.