Cameco (TSE:CCO) Stock Price Expected to Rise, TD Securities Analyst Says

Cameco (TSE:CCO) (NYSE:CCJ) had its target price hoisted by equities researchers at TD Securities from C$118.00 to C$142.00 in a note issued to investors on Tuesday,BayStreet.CA reports. TD Securities’ price objective suggests a potential upside of 21.52% from the company’s previous close.

A number of other brokerages also recently weighed in on CCO. Royal Bank Of Canada lifted their price target on Cameco from C$100.00 to C$110.00 and gave the company an “outperform” rating in a report on Friday, August 1st. President Capital upgraded Cameco from a “neutral” rating to a “buy” rating and set a C$126.92 price target on the stock in a report on Monday, September 22nd. Canaccord Genuity Group lifted their price target on Cameco from C$92.00 to C$115.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Desjardins lifted their price target on Cameco from C$105.00 to C$110.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Scotiabank boosted their target price on Cameco from C$110.00 to C$130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$119.61.

Cameco Stock Up 0.7%

Shares of Cameco stock opened at C$116.85 on Tuesday. The stock’s fifty day moving average is C$113.20 and its 200-day moving average is C$94.26. The firm has a market capitalization of C$50.87 billion, a PE ratio of 95.78, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35. Cameco has a 12-month low of C$49.75 and a 12-month high of C$137.30.

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.