Royal Bank Of Canada Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Cameco (TSE:CCO) (NYSE:CCJ) had its target price upped by investment analysts at Royal Bank Of Canada from C$160.00 to C$175.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 18.83% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Canaccord Genuity Group increased their price objective on Cameco from C$185.00 to C$195.00 in a research note on Wednesday, May 6th. Barclays set a C$149.00 target price on Cameco and gave the company an “equal weight” rating in a research report on Friday, May 22nd. Scotia upped their price target on Cameco from C$150.00 to C$175.00 and gave the stock a “sector outperform” rating in a report on Wednesday, May 6th. Finally, National Bank Financial increased their price target on Cameco from C$175.00 to C$180.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$175.43.

Cameco Stock Down 0.5%

TSE CCO traded down C$0.70 during mid-day trading on Monday, hitting C$147.27. The company’s stock had a trading volume of 407,111 shares, compared to its average volume of 996,952. The firm has a market capitalization of C$64.14 billion, a price-to-earnings ratio of 98.84, a PEG ratio of 2.22 and a beta of 0.81. The company’s 50 day simple moving average is C$154.34 and its 200 day simple moving average is C$152.17. The company has a current ratio of 3.08, a quick ratio of 3.74 and a debt-to-equity ratio of 14.11. Cameco has a twelve month low of C$94.96 and a twelve month high of C$182.72.

Cameco (TSE:CCO) (NYSE:CCJ) last released its quarterly earnings data on Tuesday, May 5th. The company reported C$0.47 earnings per share for the quarter. The firm had revenue of C$845.37 million for the quarter. Cameco had a net margin of 18.39% and a return on equity of 9.47%.

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.