Cameco (TSE:CCO) Reaches New 1-Year High - Still a Buy?

Key Points

• Cameco's stock reached a new 52-week high, trading at C$120.00, with the last trade at C$117.43 and a volume of 309,631 shares.
• Research analysts have upgraded Cameco's target prices, with the average target now at C$109.69 and multiple firms assigning "buy" ratings.
• The company's market capitalization stands at C$51.25 billion, highlighting its significant position as one of the world's largest uranium producers.

Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ reached a new 52-week high on Monday . The company traded as high as C$120.00 and last traded at C$117.43, with a volume of 309631 shares. The stock had previously closed at C$119.35.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CCO shares. Stifel Nicolaus upped their target price on Cameco from C$105.00 to C$115.00 in a research note on Tuesday, July 22nd. Berenberg Bank raised their price objective on Cameco from C$75.00 to C$96.00 in a report on Tuesday, June 10th. President Capital upgraded Cameco from a "neutral" rating to a "buy" rating and set a C$126.92 price objective on the stock in a report on Monday. Bank of America raised their price objective on Cameco from C$110.00 to C$130.00 in a report on Friday, August 29th. Finally, Canaccord Genuity Group raised their price objective on Cameco from C$92.00 to C$115.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$110.92.

Cameco Price Performance

The company has a market cap of C$51.91 billion, a PE ratio of 97.73, a P/E/G ratio of 2.22 and a beta of 1.13. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74. The company has a 50-day moving average price of C$106.79 and a two-hundred day moving average price of C$85.58.

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.