Cameco (NYSE:CCJ) Shares Gap Up to $45.63

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $45.63, but opened at $47.67. Cameco shares last traded at $47.33, with a volume of 1,227,627 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on Cameco in a research report on Monday, April 1st. They set a “buy” rating and a $55.00 target price on the stock. StockNews.com lowered shares of Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.75.

Cameco Stock Performance

The company has a market cap of $20.42 billion, a P/E ratio of 78.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 0.97. The business has a 50-day moving average of $44.65 and a two-hundred day moving average of $44.18.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). Cameco had a net margin of 13.97% and a return on equity of 5.61%. The firm had revenue of $620.00 million during the quarter. On average, sell-side analysts predict that Cameco Co. will post 1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 worth $593,967,000 after acquiring an additional 288,400 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Cameco by 0.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 72,484 shares of the basic materials company’s stock valued at $3,140,000 after purchasing an additional 338 shares during the last quarter. Hartline Investment Corp acquired a new stake in Cameco in the 1st quarter worth approximately $454,000. Van ECK Associates Corp grew its position in Cameco by 26.2% during the 1st quarter. Van ECK Associates Corp now owns 789,714 shares of the basic materials company’s stock worth $34,207,000 after purchasing an additional 164,095 shares during the last quarter. Finally, Fortis Group Advisors LLC acquired a new position in Cameco during the 1st quarter valued at approximately $480,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.