Canaccord Genuity Group Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Cameco (TSE:CCO) (NYSE:CCJ) had its target price upped by Canaccord Genuity Group from C$82.50 to C$83.50 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 28.68% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Scotiabank dropped their price objective on shares of Cameco from C$85.00 to C$81.00 and set an “outperform” rating for the company in a research note on Tuesday, March 25th. National Bankshares dropped their price target on shares of Cameco from C$87.00 to C$81.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Stifel Canada raised Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Raymond James dropped their target price on Cameco from C$84.00 to C$83.00 and set an “outperform” rating for the company in a report on Friday. Finally, Desjardins raised Cameco to a “moderate buy” rating in a research note on Thursday, April 3rd. Seven research analysts have rated the stock with a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cameco has a consensus rating of “Buy” and a consensus target price of C$82.75.

Cameco Price Performance

Shares of CCO stock opened at C$64.89 on Friday. The company has a market capitalization of C$28.56 billion, a P/E ratio of 245.17, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35. Cameco has a 12 month low of C$48.71 and a 12 month high of C$88.18. The stock has a 50 day moving average of C$59.71 and a two-hundred day moving average of C$69.70.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.