Cameco (TSE:CCO) Price Target Cut to C$185.00 by Analysts at Canaccord Genuity Group

Cameco (TSE:CCO) (NYSE:CCJ) had its target price cut by Canaccord Genuity Group from C$190.00 to C$185.00 in a report published on Tuesday morning,BayStreet.CA reports.

Several other equities research analysts also recently weighed in on the stock. Bank of America raised their target price on shares of Cameco from C$130.00 to C$175.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Sanford C. Bernstein raised their price objective on Cameco from C$139.00 to C$201.00 in a research report on Thursday, February 5th. National Bank Financial boosted their target price on Cameco from C$145.00 to C$175.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Desjardins increased their price target on Cameco from C$160.00 to C$185.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, TD Securities raised their price target on Cameco from C$150.00 to C$185.00 in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$165.69.

Cameco Price Performance

CCO opened at C$154.06 on Tuesday. The business’s 50-day moving average is C$147.30 and its two-hundred day moving average is C$128.15. 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 firm has a market capitalization of C$67.08 billion, a PE ratio of 127.32, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24.

Cameco (TSE:CCO) (NYSE:CCJ) last released its quarterly earnings results on Friday, February 13th. The company reported C$0.50 EPS for the quarter. Cameco had a net margin of 4.17% and a return on equity of 1.89%. The business had revenue of C$1.20 billion during the quarter.

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.