Cameco (TSE:CCO) Given New C$150.00 Price Target at Stifel Nicolaus

Key Points

• Cameco's price target has been raised from C$115.00 to C$150.00 by Stifel Nicolaus, indicating a potential upside of 28.89% from its previous close.
• Other analysts have also upgraded their ratings on Cameco, with several institutions setting price targets ranging from C$115.00 to C$142.00, showing broad positive sentiment towards the stock.
• Despite the favorable ratings, Cameco's stock decreased by 3.4% to C$116.38 during trading hours on Tuesday.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price objective increased by stock analysts at Stifel Nicolaus from C$115.00 to C$150.00 in a report issued on Tuesday,BayStreet.CA reports. Stifel Nicolaus' target price suggests a potential upside of 28.89% from the company's previous close.

CCO has been the subject of a number of other reports. President Capital upgraded shares of 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. TD Securities boosted their price objective on shares of Cameco from C$118.00 to C$142.00 in a report on Tuesday. Raymond James Financial increased their target price on Cameco from C$115.00 to C$120.00 in a research note on Thursday, August 21st. National Bankshares lifted their target price on Cameco from C$110.00 to C$115.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd. Finally, CLSA upgraded Cameco to a "moderate buy" rating in a report on Tuesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to data from MarketBeat.com, Cameco has an average rating of "Buy" and a consensus price target of C$119.61.

Cameco Stock Down 3.4%

TSE:CCO traded down C$4.15 during trading hours on Tuesday, reaching C$116.38. 675,603 shares of the company traded hands, compared to its average volume of 1,241,270. 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 business's 50-day moving average price is C$112.79 and its two-hundred day moving average price is C$93.95. Cameco has a 1 year low of C$49.75 and a 1 year high of C$137.30. The stock has a market capitalization of C$50.67 billion, a P/E ratio of 95.39, a P/E/G ratio of 2.22 and a beta of 1.12.

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.

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