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

Cameco (TSE:CCO) (NYSE:CCJ) had its price target lowered by investment analysts at Berenberg Bank from C$201.00 to C$183.00 in a report issued on Thursday,BayStreet.CA reports. Berenberg Bank’s price target suggests a potential upside of 10.33% from the company’s current price.

Several other brokerages also recently commented on CCO. Desjardins raised their target price on Cameco from C$160.00 to C$185.00 and gave the company a “buy” rating in a report on Monday, January 26th. TD Securities increased their price objective on shares of Cameco from C$150.00 to C$185.00 in a research report on Thursday, January 22nd. Sanford C. Bernstein boosted their target price on shares of Cameco from C$139.00 to C$201.00 in a research report on Thursday, February 5th. Royal Bank Of Canada upped their target price on shares of Cameco from C$150.00 to C$160.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Scotiabank dropped their price target on shares of Cameco from C$155.00 to C$150.00 and set an “outperform” rating on the stock in a research note on Tuesday. One investment 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. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and an average target price of C$172.38.

Cameco Stock Performance

Shares of CCO stock opened at C$165.86 on Thursday. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35. The company has a market cap of C$72.24 billion, a PE ratio of 122.86, a P/E/G ratio of 2.22 and a beta of 1.24. The company’s fifty day simple moving average is C$149.32 and its 200-day simple moving average is C$129.06. Cameco has a 52 week low of C$49.75 and a 52 week high of C$182.72.

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

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.