Sanford C. Bernstein Issues Positive Forecast for Cameco (TSE:CCO) Stock Price

Cameco (TSE:CCO) (NYSE:CCJ) had its price target raised by analysts at Sanford C. Bernstein from C$139.00 to C$201.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Sanford C. Bernstein’s price target suggests a potential upside of 34.31% from the stock’s current price.

A number of other analysts also recently commented on CCO. Desjardins boosted their target price on shares of Cameco from C$160.00 to C$185.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Bank of America upped their price target on Cameco from C$130.00 to C$175.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Stifel Nicolaus increased their price objective on Cameco from C$150.00 to C$165.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. BMO Capital Markets lifted their target price on Cameco from C$130.00 to C$160.00 in a report on Tuesday, November 4th. Finally, Raymond James Financial boosted their target price on Cameco from C$130.00 to C$150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Cameco presently has an average rating of “Buy” and a consensus target price of C$154.53.

Cameco Price Performance

CCO traded down C$7.17 on Thursday, reaching C$149.65. The company had a trading volume of 1,368,621 shares, compared to its average volume of 1,220,364. The company has a market capitalization of C$65.16 billion, a P/E ratio of 123.68, a PEG ratio of 2.22 and a beta of 1.24. 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 fifty day moving average of C$141.73 and a 200-day moving average of C$124.85. Cameco has a one year low of C$49.75 and a one year high of C$182.72.

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

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.