Gabelli Has Buy on Cameco Corporation

Gabelli & Co. is out with a research report on Cameco Corporation

and it has a Buy rating on shares. In a note to clients, Gabelli & Co. writes, "Yesterday, CCJ increased its bid for Hathor to $4.50/sh, for total consideration of $625mm. This represents an 8.4% premium to Rio Tinto's offer of $4.15/sh. Given CCJ's knowledge and experience in developing the Athabasca Basin, we believe it makes sense for CCJ to own Hathor's assets." Shares of CCJ are up 11 cents to $19.93.