Cameco Lowered to “Neutral” at Merrill Lynch (CCO)
Cameco (TSE:CCO) was downgraded by investment analysts at Merrill Lynch to a “neutral” rating in a note issued to investors on Monday, AnalystRatingsNetwork reports.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital reiterated an “outperform” rating on shares of Cameco (TSE:CCO) in a research note to investors on Monday, September 23rd. Separately, analysts at Canaccord Genuity cut their price target on shares of Cameco (TSE:CCO) from C$21.00 to C$20.00 in a research note to investors on Tuesday, September 10th. They now have a “hold” rating on the stock. Finally, analysts at Raymond James cut their price target on shares of Cameco (TSE:CCO) from C$25.00 to C$24.00 in a research note to investors on Friday, August 2nd. They now have an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of C$23.75.
Shares of Cameco (TSE:CCO) traded down 1.64% during mid-day trading on Monday, hitting $18.58. The stock had a trading volume of 1,088,389 shares. Cameco has a one year low of $16.50 and a one year high of $23.49. The stock’s 50-day moving average is $20.50 and its 200-day moving average is $21.06. The company has a market cap of $7.348 billion and a P/E ratio of 42.93.
Cameco Corporation (TSE:CCO) is engaged in the exploration for and the development, mining, refining, conversion and fabrication of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries.
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