Desjardins Boosts Cameco (TSE:CCO) Price Target to C$185.00

Cameco (TSE:CCO) (NYSE:CCJ) had its price objective boosted by analysts at Desjardins from C$160.00 to C$185.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 8.19% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Stifel Nicolaus raised their target price on Cameco from C$150.00 to C$165.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Scotiabank boosted their target price on shares of Cameco from C$150.00 to C$155.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. TD Securities boosted their price objective on shares of Cameco from C$150.00 to C$185.00 in a report on Thursday, January 22nd. Raymond James Financial lifted their target price on Cameco from C$130.00 to C$150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, BMO Capital Markets upped their price target on Cameco from C$130.00 to C$160.00 in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$149.76.

Cameco Stock Performance

CCO opened at C$171.00 on Monday. The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88. The company has a market cap of C$74.45 billion, a PE ratio of 141.32, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19. The stock has a 50-day moving average of C$135.55 and a 200-day moving average of C$122.23. Cameco has a 52-week low of C$49.75 and a 52-week high of C$175.90.

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

About Cameco

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.