Cameco Co. (NYSE:CCJ) Short Interest Update

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the recipient of 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 short-interest ratio is presently 4.1 days. Approximately 4.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

Cameco Price Performance

Shares of NYSE CCJ opened at $53.59 on Monday. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 282.07 and a beta of 0.89. The business has a 50 day simple moving average of $49.73 and a 200-day simple moving average of $48.35. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. Cameco has a twelve month low of $35.43 and a twelve month high of $58.72.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). The company had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. As a group, equities research analysts expect that Cameco will post 0.7 earnings per share for the current 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 given a $0.118 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. Cameco’s dividend payout ratio (DPR) is currently 47.37%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Cameco during the 1st quarter worth about $232,000. US Bancorp DE lifted its holdings in shares of Cameco by 3.0% in the first quarter. US Bancorp DE now owns 26,933 shares of the basic materials company’s stock valued at $1,167,000 after buying an additional 773 shares during the period. Blair William & Co. IL boosted its stake in Cameco by 2.0% during the first quarter. Blair William & Co. IL now owns 30,087 shares of the basic materials company’s stock valued at $1,303,000 after buying an additional 601 shares in the last quarter. Intech Investment Management LLC acquired a new position in Cameco during the first quarter worth about $1,056,000. Finally, Vanguard Group Inc. raised its position in Cameco by 1.3% in the first quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after acquiring an additional 200,871 shares in the last quarter. Institutional investors 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.