Short Interest in Cameco Co. (NYSE:CCJ) Declines By 7.4%

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

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCJ. Glenmede Trust Co. NA boosted its stake in shares of Cameco by 2.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 191 shares in the last quarter. S.A. Mason LLC raised its position in shares of Cameco by 6.0% in the third quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after purchasing an additional 206 shares during the period. Silvia Mccoll Wealth Management LLC lifted its stake in shares of Cameco by 3.9% in the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after buying an additional 210 shares during the last quarter. EdgeRock Capital LLC lifted its stake in shares of Cameco by 1.7% in the third quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock worth $654,000 after buying an additional 224 shares during the last quarter. Finally, LRI Investments LLC boosted its holdings in shares of Cameco by 39.0% during the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after buying an additional 234 shares during the period. Institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cameco Stock Up 0.9 %

Cameco stock opened at $53.59 on Monday. The firm’s 50 day moving average price is $49.73 and its two-hundred day moving average price is $48.35. 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 twelve month low of $35.43 and a twelve month high of $58.72. The firm has a market cap of $23.32 billion, a PE ratio of 282.07 and a beta of 0.89.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data 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). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same period in the previous year, the business posted $0.24 EPS. Cameco’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, research analysts predict that Cameco will post 0.7 EPS for the current fiscal year.

Cameco Increases Dividend

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

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.