Cameco (TSE:CCO) Hits New 52-Week High Following Analyst Upgrade

Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ reached a new 52-week high during trading on Monday after Royal Bank Of Canada raised their price target on the stock from C$90.00 to C$100.00. Royal Bank Of Canada currently has an outperform rating on the stock. Cameco traded as high as C$96.87 and last traded at C$96.64, with a volume of 341609 shares changing hands. The stock had previously closed at C$93.85.

Several other research analysts have also recently weighed in on CCO. Stifel Canada upgraded Cameco to a "strong-buy" rating in a research report on Wednesday, March 12th. Stifel Nicolaus raised their price objective on shares of Cameco from C$90.00 to C$105.00 in a research note on Tuesday, June 10th. National Bankshares lifted their target price on shares of Cameco from C$81.00 to C$95.00 in a report on Monday, June 9th. Desjardins increased their price target on shares of Cameco from C$85.00 to C$105.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Finally, Canaccord Genuity Group raised their price target on shares of Cameco from C$83.50 to C$92.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Nine analysts have rated the stock with a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, Cameco has an average rating of "Buy" and an average price target of C$96.85.

Cameco Stock Up 3.0%

The stock has a market capitalization of C$42.53 billion, a price-to-earnings ratio of 365.14, a P/E/G ratio of 2.22 and a beta of 0.90. The business has a 50-day moving average of C$74.11 and a 200-day moving average of C$70.31. The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.