Barclays Issues Pessimistic Forecast for Cameco (TSE:CCO) Stock Price

Cameco (TSE:CCO) (NYSE:CCJ) had its target price decreased by equities research analysts at Barclays from C$149.00 to C$147.00 in a research note issued on Thursday,BayStreet.CA reports. Barclays‘s target price would suggest a potential upside of 22.57% from the company’s current price.

CCO has been the topic of several other reports. National Bank Financial lifted their target price on Cameco from C$175.00 to C$180.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Royal Bank Of Canada increased their price target on Cameco from C$160.00 to C$175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Canaccord Genuity Group raised their price target on Cameco from C$185.00 to C$195.00 in a research report on Wednesday, May 6th. William Blair upgraded Cameco to a “strong-buy” rating in a report on Monday, April 20th. Finally, Truist Financial upgraded Cameco to a “strong-buy” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus target price of C$176.17.

Cameco Trading Down 2.3%

CCO opened at C$119.93 on Thursday. The firm’s fifty day moving average is C$145.40 and its two-hundred day moving average is C$152.92. The firm has a market cap of C$52.23 billion, a PE ratio of 80.49, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. Cameco has a twelve month low of C$95.60 and a twelve month high of C$182.72. The company has a debt-to-equity ratio of 14.11, a quick ratio of 3.74 and a current ratio of 3.08.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$0.47 earnings per share (EPS) for the quarter. Cameco had a net margin of 18.39% and a return on equity of 9.47%. The company had revenue of C$845.37 million during the quarter.

Insider Buying and Selling at Cameco

In other news, insider Alexandre Aubin sold 300 shares of Cameco stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of C$148.53, for a total value of C$44,559.00. Following the sale, the insider directly owned 20 shares in the company, valued at C$2,970.60. This trade represents a 93.75% decrease in their ownership of the stock. 0.15% of the stock is owned by corporate insiders.

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.