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

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) 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 changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank decreased their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Glj Research reissued a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Finally, National Bank Financial upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $67.25.

Cameco Stock Up 6.0 %

The stock has a market capitalization of $18.95 billion, a P/E ratio of 112.33 and a beta of 0.90. 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’s 50-day moving average price is $41.93 and its 200 day moving average price is $46.45.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. During the same period last year, the business earned ($0.01) earnings per share. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. As a group, equities analysts expect that Cameco Co. will post 0.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Cameco by 1.3% during the first quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock valued at $689,306,000 after buying an additional 200,871 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cameco by 2.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock valued at $593,967,000 after purchasing an additional 288,400 shares in the last quarter. Capital World Investors grew its holdings in shares of Cameco by 1.6% in the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after purchasing an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Cameco by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock worth $282,210,000 after purchasing an additional 202,157 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in Cameco by 6.8% during the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after purchasing an additional 265,196 shares in the last quarter. 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.