Cameco (TSE:CCO) Reaches New 52-Week High on Analyst Upgrade

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) reached a new 52-week high on Friday after Scotiabank raised their price target on the stock from C$150.00 to C$155.00. Scotiabank currently has an outperform rating on the stock. Cameco traded as high as C$158.85 and last traded at C$157.24, with a volume of 277260 shares trading hands. The stock had previously closed at C$146.57.

CCO has been the topic of several other reports. BMO Capital Markets increased their price objective on Cameco from C$130.00 to C$160.00 in a research report on Tuesday, November 4th. UBS Group raised shares of Cameco to a “hold” rating in a report on Monday, November 10th. Royal Bank Of Canada decreased their price objective on shares of Cameco from C$160.00 to C$150.00 in a report on Thursday, November 13th. Raymond James Financial raised their target price on shares of Cameco from C$130.00 to C$150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, Sanford C. Bernstein decreased their target price on shares of Cameco from C$141.00 to C$139.00 in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$141.30.

Cameco Price Performance

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 company has a market cap of C$68.06 billion, a P/E ratio of 129.19, a P/E/G ratio of 2.22 and a beta of 1.19. The firm’s fifty day moving average is C$127.22 and its two-hundred day moving average is C$116.33.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C$0.07 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%.

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.