Canaccord Genuity Group Cuts Cameco (TSE:CCO) Price Target to C$185.00

Cameco (TSE:CCO) (NYSE:CCJ) had its price objective trimmed by Canaccord Genuity Group from C$190.00 to C$185.00 in a report issued on Tuesday,BayStreet.CA reports.

A number of other equities research analysts also recently commented on the company. UBS Group upgraded Cameco to a “hold” rating in a report on Monday, November 10th. National Bank Financial increased their price target on shares of Cameco from C$145.00 to C$175.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Desjardins upped their target price on shares of Cameco from C$160.00 to C$185.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Raymond James Financial lifted their price target on shares of Cameco from C$165.00 to C$180.00 in a research report on Monday, February 9th. Finally, TD Securities raised their price objective on Cameco from C$150.00 to C$185.00 in a research note on Thursday, January 22nd. One analyst has 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. Based on data from MarketBeat, Cameco has a consensus rating of “Buy” and an average target price of C$172.38.

Cameco Stock Performance

Cameco stock opened at C$163.11 on Tuesday. 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 market cap of C$71.04 billion, a PE ratio of 120.82, a PEG ratio of 2.22 and a beta of 1.24. The company’s 50-day moving average is C$148.53 and its two-hundred day moving average is C$128.61. Cameco has a 1 year low of C$49.75 and a 1 year high of C$182.72.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its quarterly earnings data on Friday, February 13th. The company reported C$0.50 earnings per share (EPS) 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$1.20 billion 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.