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

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO's share price gapped up before the market opened 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 Analyst Weigh In

CCJ has been the topic of several research reports. Desjardins assumed coverage on Cameco in a research report on Friday, April 4th. They set a "buy" rating on the stock. Scotiabank restated an "outperform" rating on shares of Cameco in a research report on Wednesday, May 14th. Wall Street Zen upgraded Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Glj Research boosted their target price on shares of Cameco from $62.76 to $75.68 and gave the company a "buy" rating in a report on Wednesday, March 12th. Finally, Stifel Nicolaus started coverage on shares of Cameco in a report on Wednesday, March 12th. They set a "buy" rating on the stock. One research analyst has rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $70.53.

Cameco Stock Down 0.1%

The firm has a market capitalization of $26.29 billion, a P/E ratio of 215.68 and a beta of 0.89. The company has a fifty day simple moving average of $45.41 and a 200 day simple moving average of $48.99. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

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

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCJ. Janney Montgomery Scott LLC boosted its position in shares of Cameco by 98.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 91,767 shares of the basic materials company's stock valued at $4,716,000 after buying an additional 45,549 shares during the last quarter. Drive Wealth Management LLC bought a new position in Cameco during the 4th quarter valued at about $223,000. Blue Trust Inc. lifted its stake in Cameco by 31.9% during the 4th quarter. Blue Trust Inc. now owns 2,077 shares of the basic materials company's stock valued at $99,000 after acquiring an additional 502 shares during the period. Union Bancaire Privee UBP SA bought a new position in Cameco during the 4th quarter valued at about $1,420,000. Finally, Parsons Capital Management Inc. RI bought a new position in Cameco during the 4th quarter valued at about $1,538,000. 70.21% of the stock is 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.