National Bankshares Increases Cameco (TSE:CCO) Price Target to C$140.00

Cameco (TSE:CCO) (NYSE:CCJ) had its target price hoisted by equities research analysts at National Bankshares from C$130.00 to C$140.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price target indicates a potential downside of 4.43% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. President Capital raised Cameco from a “neutral” rating to a “buy” rating and set a C$126.92 price objective on the stock in a report on Monday, September 22nd. Raymond James Financial raised their target price on Cameco from C$115.00 to C$120.00 in a report on Thursday, August 21st. Scotiabank upped their price target on shares of Cameco from C$110.00 to C$130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Desjardins increased their price target on shares of Cameco from C$105.00 to C$110.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Canaccord Genuity Group boosted their price objective on shares of Cameco from C$92.00 to C$115.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$129.99.

Cameco Price Performance

Cameco stock opened at C$146.49 on Wednesday. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74. The business has a 50 day simple moving average of C$117.11 and a 200-day simple moving average of C$97.89. Cameco has a 12 month low of C$49.75 and a 12 month high of C$153.59. The stock has a market capitalization 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.

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.