TD Securities Downgrades Cameco (TSE:CCO) to Hold

Cameco (TSE:CCO) (NYSE:CCJ) was downgraded by investment analysts at TD Securities from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other analysts have also commented on the company. Canadian Imperial Bank of Commerce lifted their target price on Cameco from C$115.00 to C$202.00 in a report on Monday, March 9th. Desjardins increased their price objective on Cameco from C$160.00 to C$185.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Raymond James Financial lifted their price objective on Cameco from C$175.00 to C$180.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Royal Bank Of Canada boosted their target price on Cameco from C$150.00 to C$160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Finally, Berenberg Bank lowered their target price on shares of Cameco from C$201.00 to C$183.00 in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and an average target price of C$174.85.

Cameco Price Performance

CCO stock opened at C$144.31 on Thursday. The firm has a 50 day moving average price of C$159.29 and a 200-day moving average price of C$137.79. The firm has a market capitalization of C$62.85 billion, a price-to-earnings ratio of 106.90, a PEG ratio of 2.22 and a beta of 0.67. Cameco has a 52-week low of C$49.75 and a 52-week high of C$182.72. The company has a debt-to-equity ratio of 14.82, a quick ratio of 3.74 and a current ratio of 2.47.

Cameco (TSE:CCO) (NYSE:CCJ) last posted its quarterly earnings results on Friday, February 13th. The company reported C$0.50 earnings per share (EPS) for the quarter. The firm had revenue of C$1.20 billion during the quarter. Cameco had a return on equity of 8.76% and a net margin of 16.93%.

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.