Cameco (TSE:CCO) Stock Price Expected to Rise, Bank of America Analyst Says

Cameco (TSE:CCO) (NYSE:CCJ) had its price objective hoisted by research analysts at Bank of America from C$130.00 to C$175.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 19.46% from the stock’s previous close.

Several other research firms have also recently commented on CCO. National Bankshares upped their target price on shares of Cameco from C$130.00 to C$140.00 and gave the company an “outperform” rating in a research note on Wednesday. Raymond James Financial upped their price objective on shares of Cameco from C$130.00 to C$150.00 and gave the company an “outperform” rating in a research report on Wednesday. Desjardins increased their target price on shares of Cameco from C$105.00 to C$110.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Scotiabank boosted their price target 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. Finally, CLSA raised Cameco to a “moderate buy” rating in a report on Tuesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$129.99.

Cameco Stock Down 1.6%

Shares of CCO stock opened at C$146.49 on Wednesday. Cameco has a 12 month low of C$49.75 and a 12 month high of C$153.59. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35. The firm has a market cap of C$63.78 billion, a PE ratio of 120.07, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. The stock has a 50 day moving average of C$117.11 and a 200-day moving average of C$97.89.

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.