Cameco (NYSE:CCJ) Shares Gap Up - Still a Buy?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO's share price gapped up prior to trading on Friday . The stock had previously closed at $52.81, but opened at $56.07. Cameco shares last traded at $57.42, with a volume of 3,675,990 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCJ. Stifel Canada raised Cameco to a "strong-buy" rating in a research report on Wednesday, March 12th. Stifel Nicolaus began coverage on Cameco in a research note on Wednesday, March 12th. They issued a "buy" rating on the stock. Wall Street Zen upgraded shares of Cameco from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. The Goldman Sachs Group initiated coverage on shares of Cameco in a research note on Tuesday, May 20th. They set a "buy" rating and a $65.00 price target on the stock. Finally, Scotiabank reiterated an "outperform" rating on shares of Cameco in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $70.53.

Cameco Stock Up 10.8%

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The company has a fifty day moving average price of $45.09 and a 200 day moving average price of $48.91. The company has a market cap of $25.48 billion, a PE ratio of 209.01 and a beta of 0.89.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $549.58 million during the quarter, compared to analysts' expectations of $890.07 million. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The firm's revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share. As a group, analysts anticipate that Cameco Co. will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sierra Ocean LLC purchased a new position in Cameco in the 4th quarter worth approximately $25,000. Manchester Capital Management LLC increased its position in shares of Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock valued at $25,000 after buying an additional 300 shares during the period. Hurley Capital LLC purchased a new stake in Cameco in the fourth quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Cameco in the 4th quarter worth about $28,000. Finally, Dagco Inc. purchased a new stake in shares of Cameco in the 1st quarter worth approximately $28,000. 70.21% of the stock is currently owned by institutional investors.

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.