Cameco (TSE:CCO) Reaches New 12-Month High – Time to Buy?

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) hit a new 52-week high on Friday . The company traded as high as C$161.24 and last traded at C$160.34, with a volume of 77196 shares traded. The stock had previously closed at C$156.85.

Analyst Ratings Changes

Several analysts recently weighed in on CCO shares. President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating and set a C$126.92 price target on the stock in a report on Monday, September 22nd. TD Securities raised their target price on shares of Cameco from C$142.00 to C$150.00 in a research report on Thursday, November 13th. National Bankshares boosted their price target on shares of Cameco from C$140.00 to C$145.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Sanford C. Bernstein lowered their price objective on shares of Cameco from C$141.00 to C$139.00 in a report on Thursday, January 8th. Finally, UBS Group raised Cameco to a “hold” rating in a research report on Monday, November 10th. Two research 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. According to data from MarketBeat.com, Cameco has a consensus rating of “Buy” and an average price target of C$141.30.

Cameco Stock Up 3.6%

The stock’s 50 day simple moving average is C$128.82 and its two-hundred day simple moving average is C$118.20. The firm has a market cap of C$70.78 billion, a P/E ratio of 134.35, a P/E/G ratio of 2.22 and a beta of 1.19. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74.

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