Canadian Imperial Bank of Commerce Issues Positive Forecast for Cameco (TSE:CCO) Stock Price

Cameco (TSE:CCO) (NYSE:CCJ) had its price target raised by Canadian Imperial Bank of Commerce from C$115.00 to C$202.00 in a report published on Monday morning,BayStreet.CA reports.

CCO has been the subject of a number of other reports. Sanford C. Bernstein upped their price target on shares of Cameco from C$139.00 to C$201.00 in a report on Thursday, February 5th. Berenberg Bank dropped their price objective on Cameco from C$201.00 to C$183.00 in a research note on Thursday, February 19th. Desjardins boosted their price objective on Cameco from C$160.00 to C$185.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. National Bank Financial increased their target price on Cameco from C$145.00 to C$175.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Finally, UBS Group raised Cameco to a “hold” rating in a report on Monday, November 10th. One 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. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$174.85.

Cameco Price Performance

Shares of Cameco stock opened at C$157.75 on Monday. The company has a current ratio of 2.47, a quick ratio of 3.74 and a debt-to-equity ratio of 14.82. The firm has a fifty day simple moving average of C$157.45 and a 200-day simple moving average of C$133.86. The stock has a market capitalization of C$68.71 billion, a price-to-earnings ratio of 116.85, a PEG ratio of 2.22 and a beta of 0.67. Cameco has a 1-year low of C$49.75 and a 1-year high of C$182.72.

Cameco (TSE:CCO) (NYSE:CCJ) last posted its earnings results on Friday, February 13th. The company reported C$0.50 earnings per share (EPS) for the quarter. The business had revenue of C$1.20 billion for the quarter. Cameco had a net margin of 16.93% and a return on equity of 8.76%.

About Cameco

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.