Cameco (TSE:CCO) Given New C$155.00 Price Target at Scotiabank

Cameco (TSE:CCO) (NYSE:CCJ) had its price objective raised by investment analysts at Scotiabank from C$150.00 to C$155.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 7.68% from the stock’s current price.

Other equities analysts have also issued research reports about the company. President Capital upgraded Cameco from a “neutral” rating to a “buy” rating and set a C$126.92 price objective for the company in a research note on Monday, September 22nd. Royal Bank Of Canada reduced their price target on Cameco from C$160.00 to C$150.00 in a research report on Thursday, November 13th. UBS Group raised Cameco to a “hold” rating in a report on Monday, November 10th. Bank of America raised their price objective on shares of Cameco from C$130.00 to C$175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, TD Securities lifted their target price on shares of Cameco from C$142.00 to C$150.00 in a report on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$141.30.

Cameco Stock Performance

CCO traded up C$0.05 during trading on Thursday, reaching C$143.94. 542,934 shares of the company’s stock were exchanged, compared to its average volume of 1,079,480. 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 has a 1 year low of C$49.75 and a 1 year high of C$153.59. The company’s fifty day simple moving average is C$127.22 and its 200-day simple moving average is C$116.12. The stock has a market capitalization of C$62.67 billion, a P/E ratio of 118.96, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19.

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