Cameco Corp (NYSE:CCJ) Sees Significant Increase in Short Interest

Cameco Corp (NYSE:CCJ) (TSE:CCO) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 15,714,100 shares, a growth of 11.7% from the July 31st total of 14,064,200 shares. Based on an average daily trading volume, of 2,410,000 shares, the short-interest ratio is presently 6.5 days. Approximately 4.0% of the company’s stock are short sold.

Several equities analysts have recently issued reports on CCJ shares. ValuEngine upgraded shares of Cameco from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Zacks Investment Research upgraded shares of Cameco from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Cameco presently has an average rating of “Hold” and an average price target of $14.67.

Several hedge funds have recently added to or reduced their stakes in the company. Beutel Goodman & Co Ltd. raised its holdings in Cameco by 5.5% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 22,637,205 shares of the basic materials company’s stock worth $242,692,000 after acquiring an additional 1,189,192 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Cameco by 1.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,293,030 shares of the basic materials company’s stock worth $196,326,000 after acquiring an additional 213,313 shares during the last quarter. Vanguard Group Inc. raised its holdings in Cameco by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,813,049 shares of the basic materials company’s stock worth $126,754,000 after acquiring an additional 366,054 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Cameco by 5.8% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 8,204,614 shares of the basic materials company’s stock worth $88,036,000 after acquiring an additional 449,300 shares during the last quarter. Finally, Exor Investments UK LLP raised its holdings in Cameco by 7.0% in the 2nd quarter. Exor Investments UK LLP now owns 6,382,515 shares of the basic materials company’s stock worth $68,484,000 after acquiring an additional 415,105 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.



Shares of CCJ stock traded up $0.12 during trading hours on Friday, hitting $9.69. 1,992,874 shares of the company’s stock traded hands, compared to its average volume of 2,242,765. The stock’s fifty day simple moving average is $8.78 and its two-hundred day simple moving average is $10.45. Cameco has a 12-month low of $8.03 and a 12-month high of $13.04. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 24.23 and a beta of 0.92. The company has a quick ratio of 1.74, a current ratio of 2.59 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, July 25th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.02). Cameco had a net margin of 7.37% and a return on equity of 3.37%. The business had revenue of $388.00 million for the quarter, compared to analysts’ expectations of $360.50 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. Cameco’s revenue for the quarter was up 16.5% on a year-over-year basis.

About Cameco

Cameco Corporation produces and sells uranium worldwide. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; and the Inkai property located in Kazakhstan.

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