National Bankshares Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Cameco (TSE:CCO) (NYSE:CCJ) had its price objective lifted by stock analysts at National Bankshares from C$145.00 to C$175.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ price target indicates a potential upside of 12.77% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Desjardins lifted their price target on Cameco from C$160.00 to C$185.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. UBS Group upgraded shares of Cameco to a “hold” rating in a report on Monday, November 10th. Royal Bank Of Canada lowered their price target on shares of Cameco from C$160.00 to C$150.00 in a report on Thursday, November 13th. BMO Capital Markets increased their price target on shares of Cameco from C$130.00 to C$160.00 in a research report on Tuesday, November 4th. Finally, Bank of America boosted their price objective on shares of Cameco from C$130.00 to C$175.00 and gave the company 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 given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and a consensus target price of C$156.84.

Cameco Stock Up 3.7%

Shares of CCO opened at C$155.18 on Friday. Cameco has a 1 year low of C$49.75 and a 1 year high of C$182.72. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74. The stock has a 50 day simple moving average of C$142.85 and a two-hundred day simple moving average of C$125.50. The firm has a market cap of C$67.57 billion, a P/E ratio of 128.25, a P/E/G ratio of 2.22 and a beta of 1.24.

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

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.