Raymond James Financial Raises Cameco (TSE:CCO) Price Target to C$180.00

Cameco (TSE:CCO) (NYSE:CCJ) had its price objective hoisted by equities researchers at Raymond James Financial from C$175.00 to C$180.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s target price would suggest a potential upside of 9.74% from the company’s previous close.

A number of other research firms have also issued reports on CCO. BMO Capital Markets boosted their price target on shares of Cameco from C$130.00 to C$160.00 in a report on Tuesday, November 4th. Sanford C. Bernstein raised their price objective on shares of Cameco from C$139.00 to C$201.00 in a research report on Thursday, February 5th. Canaccord Genuity Group decreased their price target on Cameco from C$190.00 to C$185.00 in a research note on Tuesday, February 17th. Desjardins raised their price objective on Cameco from C$160.00 to C$185.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Berenberg Bank cut their target price on shares of Cameco from C$201.00 to C$183.00 in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Cameco has an average rating of “Buy” and a consensus price target of C$172.76.

Cameco Price Performance

Shares of Cameco stock opened at C$164.02 on Tuesday. The company’s 50-day moving average price is C$155.83 and its two-hundred day moving average price is C$132.52. The stock has a market cap of C$71.44 billion, a PE ratio of 121.50, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The company has a current ratio of 2.47, a quick ratio of 3.74 and a debt-to-equity ratio of 14.82. Cameco has a 52 week low of C$49.75 and a 52 week high of C$182.72.

Cameco (TSE:CCO) (NYSE:CCJ) last released its earnings results on Friday, February 13th. The company reported C$0.50 EPS for the quarter. The business had revenue of C$1.20 billion for the quarter. Cameco had a net margin of 16.93% and a return on equity of 8.76%.

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.