Desjardins Issues Positive Forecast for Cameco (TSE:CCO) Stock Price

Cameco (TSE:CCO) (NYSE:CCJ) had its price target raised by Desjardins from C$160.00 to C$185.00 in a research note released on Monday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research analysts also recently weighed in on CCO. TD Securities upped their target price on Cameco from C$150.00 to C$185.00 in a report on Thursday, January 22nd. Scotiabank upped their price target on Cameco from C$150.00 to C$155.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Sanford C. Bernstein decreased their price objective on Cameco from C$141.00 to C$139.00 in a report on Thursday, January 8th. Raymond James Financial boosted their target price on shares of Cameco from C$130.00 to C$150.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, Bank of America upped their target price on shares of Cameco from C$130.00 to C$175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cameco has a consensus rating of “Buy” and a consensus target price of C$149.76.

Cameco Stock Down 2.1%

Shares of TSE CCO opened at C$166.28 on Monday. The firm has a fifty day simple moving average of C$134.46 and a two-hundred day simple moving average of C$121.72. Cameco has a 12 month low of C$49.75 and a 12 month high of C$175.90. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35. The firm has a market capitalization of C$72.40 billion, a PE ratio of 137.42, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19.

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