Royal Bank Of Canada Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Cameco (TSE:CCO) (NYSE:CCJ) had its target price raised by Royal Bank Of Canada from C$110.00 to C$160.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Royal Bank Of Canada’s price objective points to a potential upside of 11.62% from the stock’s previous close.

CCO has been the topic of several other reports. TD Securities upped their price objective on shares of Cameco from C$118.00 to C$142.00 in a research report on Tuesday, October 21st. Stifel Nicolaus boosted their price target on shares of Cameco from C$150.00 to C$165.00 and gave the stock a “buy” rating in a research note on Wednesday. President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating and set a C$126.92 price objective on the stock in a research report on Monday, September 22nd. CLSA raised shares of Cameco to a “moderate buy” rating in a report on Tuesday, September 9th. Finally, Raymond James Financial increased their target price on Cameco from C$130.00 to C$150.00 and gave the company an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company’s stock. Based on data from MarketBeat, Cameco presently has an average rating of “Buy” and an average price target of C$133.84.

Cameco Price Performance

Cameco stock opened at C$143.34 on Friday. The stock has a market cap of C$62.41 billion, a price-to-earnings ratio of 117.49, a PEG 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. The business has a 50-day simple moving average of C$117.90 and a 200 day simple moving average of C$98.78. Cameco has a 52 week low of C$49.75 and a 52 week high of C$153.59.

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.