Gabelli Maintains Buy on Cameco

Gabelli is out with its report today on Cameco (NYSE: CCJ), maintaining Buy.

In a note to clients, Gabelli writes, "Cameco is highly committed to long-term uranium contracts until 2016 which provides protection in the near term to volatile uranium spot prices post the nuclear incident in Fukushima. Cameco's collection of valuable assets and its contracting strategy place the Company in the best position to benefit in the short-term and long-term as uranium demand increases due to increased demand for nuclear power."

At the time of posting, shares of CCJ were trading at $24.51, up 0.70% from Thursday's close.