Cameco (TSE:CCO) Hits New 1-Year High – Here’s What Happened

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$161.24 and last traded at C$160.34, with a volume of 77196 shares. The stock had previously closed at C$156.85.

Analyst Ratings Changes

CCO has been the subject of a number of recent analyst reports. Sanford C. Bernstein reduced their price objective on shares of Cameco from C$141.00 to C$139.00 in a research report on Thursday, January 8th. Bank of America increased their target price on Cameco from C$130.00 to C$175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Raymond James Financial lifted their price target on Cameco from C$130.00 to C$150.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada dropped their price objective on Cameco from C$160.00 to C$150.00 in a report on Thursday, November 13th. Finally, Stifel Nicolaus increased their price objective on Cameco from C$150.00 to C$165.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$141.30.

Cameco Stock Up 3.3%

The firm has a 50 day moving average of C$129.47 and a two-hundred day moving average of C$118.74. The stock has a market capitalization of C$70.56 billion, a PE ratio of 133.93, a P/E/G ratio of 2.22 and a beta of 1.19. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35.

Cameco (TSE:CCO) (NYSE:CCJ) last posted its earnings results on Wednesday, November 5th. The company reported C$0.07 EPS for the quarter. Cameco had a return on equity of 1.89% and a net margin of 4.17%.The company had revenue of C$614.56 million for the quarter.

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. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.