Cameco (TSE:CCO) Reaches New 52-Week High on Analyst Upgrade

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) reached a new 52-week high on Friday after BMO Capital Markets raised their price target on the stock from C$110.00 to C$120.00. The company traded as high as C$114.25 and last traded at C$109.20, with a volume of 208155 shares trading hands. The stock had previously closed at C$108.14.

A number of other analysts have also recently issued reports on the company. Raymond James Financial raised their price objective on Cameco from C$115.00 to C$120.00 in a research report on Thursday, August 21st. Stifel Nicolaus raised their price objective on Cameco from C$105.00 to C$115.00 in a research report on Tuesday, July 22nd. Scotiabank raised their price objective on Cameco from C$100.00 to C$110.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Bank of America raised their price objective on Cameco from C$110.00 to C$130.00 in a research report on Friday. Finally, TD Securities raised their price objective on Cameco from C$115.00 to C$117.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$109.69.

Cameco Stock Performance

The firm has a market capitalization of C$46.26 billion, a price-to-earnings ratio of 87.08, a PEG ratio of 2.22 and a beta of 1.07. The company has a fifty day moving average of C$103.34 and a two-hundred day moving average of C$80.25. The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88.

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.