Cameco (TSE:CCO) Sets New 52-Week High After Analyst Upgrade

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s share price hit a new 52-week high during trading on Thursday after TD Securities raised their price target on the stock from C$150.00 to C$185.00. The company traded as high as C$169.36 and last traded at C$169.23, with a volume of 1517666 shares traded. The stock had previously closed at C$160.33.

A number of other brokerages also recently issued reports on CCO. Raymond James Financial increased their price target 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. 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. BMO Capital Markets lifted their price target on shares of Cameco from C$130.00 to C$160.00 in a research report on Tuesday, November 4th. Sanford C. Bernstein decreased their price target on Cameco from C$141.00 to C$139.00 in a research note on Thursday, January 8th. Finally, UBS Group raised Cameco to a “hold” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$143.99.

Cameco Trading Up 1.2%

The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88. The business has a fifty day simple moving average of C$133.47 and a 200 day simple moving average of C$120.92. The stock has a market cap of C$73.97 billion, a price-to-earnings ratio of 140.40, a PEG ratio of 2.22 and a beta of 1.19.

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

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.