Cameco (TSE:CCO) Reaches New 12-Month High on Analyst Upgrade

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) reached a new 52-week high during trading on Thursday after TD Securities raised their price target on the stock from C$150.00 to C$185.00. The company traded as high as C$169.36 and last traded at C$169.23, with a volume of 1517666 shares trading hands. The stock had previously closed at C$160.33.

Other equities research analysts have also recently issued research reports about the company. Sanford C. Bernstein cut their price target on Cameco from C$141.00 to C$139.00 in a report on Thursday, January 8th. National Bankshares raised their target price on Cameco from C$140.00 to C$145.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Bank of America boosted their price target on shares of Cameco from C$130.00 to C$175.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada cut their price objective on shares of Cameco from C$160.00 to C$150.00 in a research report on Thursday, November 13th. Finally, UBS Group raised shares of Cameco to a “hold” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Cameco presently has a consensus rating of “Buy” and an average price target of C$143.99.

Cameco Trading Up 1.2%

The business’s 50-day simple moving average is C$133.47 and its two-hundred day simple moving average is C$120.92. The firm has a market capitalization of C$73.97 billion, a price-to-earnings ratio of 140.40, a PEG ratio of 2.22 and a beta of 1.19. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35.

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

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.