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

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares gapped up prior to trading 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 traded.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group raised their price target on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Bank of America increased their target price on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Glj Research reiterated a “buy” rating and set a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $67.25.

Cameco Stock Up 6.0 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The company has a fifty day simple moving average of $41.93 and a two-hundred day simple moving average of $46.45. The firm has a market capitalization of $18.95 billion, a PE ratio of 112.33 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (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 business had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The firm’s revenue was up 24.1% on a year-over-year basis. Analysts forecast that Cameco Co. will post 0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Heritage Wealth Management Inc. bought a new stake in shares of Cameco in the 2nd quarter valued at about $402,000. Sanctuary Advisors LLC purchased a new position in Cameco in the second quarter worth $349,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Cameco during the second quarter worth $202,000. Granite Bay Wealth Management LLC purchased a new stake in shares of Cameco during the 2nd quarter valued at $273,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Cameco in the 2nd quarter worth $542,000. 70.21% of the stock is currently owned by hedge funds and other 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.