Cameco (NYSE:CCJ) Shares Gap Up to $41.08

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $41.08, but opened at $43.49. Cameco shares last traded at $43.81, with a volume of 604,697 shares.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CCJ. Glj Research reissued a “buy” rating and issued a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America raised their target price on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank lowered their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Cameco presently has an average rating of “Buy” and an average price target of $67.25.

Cameco Stock Up 8.1 %

The firm has a market cap of $19.32 billion, a PE ratio of 113.85 and a beta of 0.90. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average price of $41.76 and a 200-day moving average price of $46.51.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The firm had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. During the same quarter last year, the firm earned ($0.01) EPS. The company’s revenue was up 24.1% on a year-over-year basis. Research analysts forecast that Cameco Co. will post 0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Murphy Pohlad Asset Management LLC grew its position in shares of Cameco by 0.3% in the 1st quarter. Murphy Pohlad Asset Management LLC now owns 75,720 shares of the basic materials company’s stock valued at $3,280,000 after buying an additional 200 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Cameco by 26.0% during the first quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 221 shares during the last quarter. LRI Investments LLC increased its holdings in shares of Cameco by 39.0% in the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 234 shares during the period. Highview Capital Management LLC DE raised its position in Cameco by 4.4% in the 1st quarter. Highview Capital Management LLC DE now owns 5,946 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 250 shares during the last quarter. Finally, S.A. Mason LLC boosted its stake in Cameco by 8.1% during the 2nd quarter. S.A. Mason LLC now owns 3,449 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 258 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.