Canaccord Genuity Group Has Lowered Expectations for Cameco (TSE:CCO) Stock Price

Cameco (TSE:CCO) (NYSE:CCJ) had its target price reduced by research analysts at Canaccord Genuity Group from C$190.00 to C$185.00 in a report released on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential upside of 15.97% from the company’s current price.

A number of other research firms also recently weighed in on CCO. Stifel Nicolaus boosted their target price on Cameco from C$165.00 to C$180.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. TD Securities lifted their price target on shares of Cameco from C$150.00 to C$185.00 in a research note on Thursday, January 22nd. BMO Capital Markets upped their price objective on shares of Cameco from C$130.00 to C$160.00 in a research note on Tuesday, November 4th. Sanford C. Bernstein increased their target price on shares of Cameco from C$139.00 to C$201.00 in a report on Thursday, February 5th. Finally, Bank of America boosted their price target on shares of Cameco from C$130.00 to C$175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$165.69.

Cameco Stock Performance

TSE CCO opened at C$159.52 on Tuesday. Cameco has a 52-week low of C$49.75 and a 52-week high of C$182.72. The company has a fifty day moving average of C$147.90 and a 200-day moving average of C$128.37. The company has a market capitalization of C$69.48 billion, a P/E ratio of 118.16, a P/E/G ratio of 2.22 and a beta of 1.24. 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 released its earnings results on Friday, February 13th. The company reported C$0.50 EPS for the quarter. Cameco had a return on equity of 1.89% and a net margin of 4.17%.The business had revenue of C$1.20 billion for the quarter.

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.