Berenberg Bank Reaffirms Buy Rating for Yellow Cake (LON:YCA)

Yellow Cake (LON:YCA)‘s stock had its “buy” rating reaffirmed by research analysts at Berenberg Bank in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They presently have a GBX 704 target price on the stock. Berenberg Bank’s price objective indicates a potential upside of 3.61% from the company’s current price.

A number of other brokerages have also weighed in on YCA. Citigroup raised their price objective on shares of Yellow Cake from GBX 670 to GBX 700 and gave the company a “buy” rating in a report on Thursday, January 15th. Canaccord Genuity Group cut their price target on Yellow Cake from GBX 695 to GBX 680 and set a “buy” rating on the stock in a research note on Thursday, December 4th. Finally, Panmure Gordon raised Yellow Cake to a “buy” rating and upped their price objective for the stock from GBX 550 to GBX 630 in a research report on Tuesday, December 2nd. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of GBX 666.80.

Yellow Cake Stock Up 1.5%

Shares of LON:YCA opened at GBX 679.50 on Thursday. Yellow Cake has a fifty-two week low of GBX 359 and a fifty-two week high of GBX 691. The firm’s 50 day moving average price is GBX 576.16 and its 200 day moving average price is GBX 544.05. The stock has a market cap of £1.63 billion, a price-to-earnings ratio of -169.88 and a beta of 0.27.

About Yellow Cake

Yellow Cake is a London-quoted company, incorporated in Jersey, which offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding U3O8. It may also seek to add value through other uranium-related activities. Yellow Cake and its wholly owned subsidiary (the “Group”) seek to generate returns for shareholders through the appreciation of the value of its holding of U3O8 and its other uranium-related activities in a rising uranium price environment. The business is differentiated from its peers by its ten-year Framework Agreement for the supply of U3O8 with Kazatomprom, the world’s largest uranium producer.