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

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO's stock price gapped up before the market opened on Tuesday . The stock had previously closed at $58.18, but opened at $60.71. Cameco shares last traded at $59.72, with a volume of 1,955,570 shares trading hands.

Analyst Ratings Changes

CCJ has been the topic of several analyst reports. Wall Street Zen upgraded shares of Cameco from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Stifel Canada upgraded Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. Glj Research increased their price target on Cameco from $62.76 to $75.68 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. Stifel Nicolaus initiated coverage on Cameco in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. Finally, Desjardins started coverage on Cameco in a research note on Friday, April 4th. They set a "buy" rating for the company. One equities 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 data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $70.53.

Cameco Trading Up 0.5%

The company has a fifty day moving average of $46.91 and a 200-day moving average of $49.20. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $26.10 billion, a price-to-earnings ratio of 214.11 and a beta of 0.89.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm had revenue of $549.58 million during 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 was up 24.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 EPS. As a group, equities research analysts anticipate that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in shares of Cameco during the fourth quarter worth $25,000. Manchester Capital Management LLC boosted its position in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company's stock worth $25,000 after acquiring an additional 300 shares during the last quarter. Hurley Capital LLC purchased a new stake in Cameco during the 4th quarter valued at about $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Cameco in the 4th quarter valued at about $28,000. Finally, Dagco Inc. acquired a new stake in Cameco in the 1st quarter valued at about $28,000. Hedge funds and other 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.