TD Securities Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Cameco (TSE:CCO) (NYSE:CCJ) had its price target hoisted by analysts at TD Securities from C$150.00 to C$185.00 in a research report issued on Thursday,BayStreet.CA reports. TD Securities’ price objective would indicate a potential upside of 8.89% from the stock’s previous close.

Several other research analysts have also commented on CCO. Stifel Nicolaus raised their price objective on Cameco from C$150.00 to C$165.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Raymond James Financial increased their target price on Cameco from C$130.00 to C$150.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada reduced their price target on Cameco from C$160.00 to C$150.00 in a research report on Thursday, November 13th. UBS Group raised shares of Cameco to a “hold” rating in a research report on Monday, November 10th. Finally, BMO Capital Markets lifted their price objective on shares of Cameco from C$130.00 to C$160.00 in a research note on Tuesday, November 4th. One 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$143.99.

Cameco Trading Up 1.2%

TSE CCO opened at C$169.89 on Thursday. 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 has a one year low of C$49.75 and a one year high of C$174.25. The company’s 50 day moving average price is C$133.47 and its 200 day moving average price 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.

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

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.