Cameco (NYSE:CCJ) Shares Gap Up - Here's What Happened

Key Points

• Cameco's stock price gapped up from a previous close of $71.43 to open at $73.64 and last traded at $74.52, with a significant trading volume of 606,289 shares.
• Analysts have issued predominantly positive ratings for Cameco, with a consensus average rating of "Buy" and an average price target of $83.32.
• The company reported earnings of $0.51 per share, exceeding expectations, along with a notable 46.7% increase in revenue compared to the same quarter last year.

Cameco Corporation (NYSE:CCJ - Get Free Report) TSE: CCO's stock price gapped up prior to trading on Friday . The stock had previously closed at $71.43, but opened at $73.64. Cameco shares last traded at $74.52, with a volume of 606,289 shares trading hands.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group reissued a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. The Goldman Sachs Group upped their price objective on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Wall Street Zen upgraded Cameco from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. Finally, Glj Research reaffirmed a "buy" rating and set a $75.27 price target on shares of Cameco in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $83.32.

Cameco Stock Performance

The firm has a market cap of $32.44 billion, a price-to-earnings ratio of 85.67 and a beta of 1.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The firm's 50 day moving average is $74.33 and its 200-day moving average is $56.67.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business's revenue was up 46.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

Several large investors have recently bought and sold shares of CCJ. Renaissance Technologies LLC bought a new stake in shares of Cameco during the fourth quarter worth $1,660,000. First Trust Advisors LP bought a new position in Cameco during the fourth quarter worth about $390,000. Natixis increased its position in Cameco by 24.9% during the fourth quarter. Natixis now owns 22,370 shares of the basic materials company's stock worth $1,150,000 after acquiring an additional 4,464 shares during the period. Stifel Financial Corp increased its holdings in Cameco by 5.9% in the 4th quarter. Stifel Financial Corp now owns 400,061 shares of the basic materials company's stock valued at $20,559,000 after buying an additional 22,111 shares during the period. Finally, Pinebridge Investments L.P. grew its holdings in shares of Cameco by 2.9% during the 4th quarter. Pinebridge Investments L.P. now owns 96,948 shares of the basic materials company's stock valued at $4,982,000 after purchasing an additional 2,724 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.

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