Cameco (TSE:CCO) Sets New 1-Year High After Analyst Upgrade

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) hit a new 52-week high on Friday after Scotiabank raised their price target on the stock from C$150.00 to C$155.00. Scotiabank currently has an outperform rating on the stock. Cameco traded as high as C$158.85 and last traded at C$157.24, with a volume of 277260 shares traded. The stock had previously closed at C$146.57.

CCO has been the subject of a number of other research reports. President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating and set a C$126.92 price objective for the company in a report on Monday, September 22nd. TD Securities boosted their price target on shares of Cameco from C$142.00 to C$150.00 in a research note on Thursday, November 13th. Royal Bank Of Canada reduced their price objective on Cameco from C$160.00 to C$150.00 in a research note on Thursday, November 13th. National Bankshares lifted their target price on Cameco from C$140.00 to C$145.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Stifel Nicolaus upped their price target on Cameco from C$150.00 to C$165.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and a consensus target price of C$141.30.

Cameco Trading Up 2.1%

The firm has a market capitalization of C$65.15 billion, a price-to-earnings ratio of 123.67, a PEG ratio of 2.22 and a beta of 1.19. The company has a 50-day moving average price of C$127.35 and a 200-day moving average price of C$116.83. The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C$0.07 EPS for the quarter. The business had revenue of C$614.56 million during the quarter. Cameco had a return on equity of 1.89% and a net margin of 4.17%.

Cameco Company Profile

Cameco is one of the world’s largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.