Short Interest in Cameco Co. (NYSE:CCJ) Decreases By 8.2%

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 20,020,000 shares, a decline of 8.2% from the March 15th total of 21,800,000 shares. Approximately 4.6% of the company’s shares are short sold. Based on an average daily trading volume, of 5,260,000 shares, the days-to-cover ratio is presently 3.8 days.

Cameco Stock Performance

Shares of CCJ traded down $0.14 on Tuesday, reaching $48.18. 4,572,199 shares of the company’s stock traded hands, compared to its average volume of 5,280,047. The stock’s 50 day simple moving average is $43.65 and its two-hundred day simple moving average is $43.39. The company has a current ratio of 1.55, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. Cameco has a 52-week low of $25.11 and a 52-week high of $52.64. The stock has a market cap of $20.92 billion, a PE ratio of 80.30 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). Cameco had a return on equity of 5.61% and a net margin of 13.97%. The company had revenue of $620.00 million during the quarter. On average, analysts forecast that Cameco will post 1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Cameco in a research note on Monday, April 1st. They set a “buy” rating and a $55.00 target price on the stock. StockNews.com downgraded Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. Finally, Cantor Fitzgerald cut Cameco from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.75.

Hedge Funds Weigh In On Cameco

Several institutional investors have recently bought and sold shares of CCJ. Morgan Stanley boosted its position in Cameco by 5.8% during the third quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock worth $307,300,000 after purchasing an additional 428,310 shares during the period. Guardian Capital LP grew its holdings in Cameco by 40.7% during the 3rd quarter. Guardian Capital LP now owns 864,304 shares of the basic materials company’s stock valued at $34,451,000 after buying an additional 250,115 shares in the last quarter. Foster Victor Wealth Advisors LLC bought a new stake in shares of Cameco during the fourth quarter valued at about $3,956,000. Financial Insights Inc. purchased a new stake in shares of Cameco in the third quarter worth about $1,942,000. Finally, Platinum Investment Management Ltd. lifted its stake in Cameco by 156.3% in the 3rd quarter. Platinum Investment Management Ltd. now owns 3,089,235 shares of the basic materials company’s stock worth $122,605,000 after purchasing an additional 1,884,004 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.