Cameco (TSE:CCO) Sets New 1-Year High - Time to Buy?

Key Points

• Cameco shares reached a new 52-week high of C$110.12 on Tuesday, closing at C$109.40, with a trading volume of 143,926 shares.
• Several analysts have raised their target price for Cameco, with Stifel Nicolaus increasing it from C$105.00 to C$115.00, reflecting a strong overall buy rating consensus among analysts.
• Cameco is engaged primarily in uranium production and its other operations include refining and conversion services for the nuclear energy sector.

Shares of Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$110.12 and last traded at C$109.40, with a volume of 143926 shares trading hands. The stock had previously closed at C$108.70.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of Cameco from C$93.00 to C$106.00 in a report on Tuesday, June 10th. National Bankshares lifted their price objective on shares of Cameco from C$100.00 to C$110.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Canaccord Genuity Group lifted their price objective on shares of Cameco from C$92.00 to C$115.00 and gave the company a "buy" rating in a report on Wednesday. Scotiabank lifted their price objective on shares of Cameco from C$100.00 to C$110.00 and gave the company an "outperform" rating in a report on Friday. Finally, Desjardins raised their target price on shares of Cameco from C$105.00 to C$110.00 and gave the company a "buy" rating in a research note on Friday. Nine research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$103.85.

Cameco Stock Down 3.3%

The company's 50 day moving average price is C$96.50 and its 200 day moving average price is C$75.90. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35. The firm has a market capitalization of C$44.29 billion, a price-to-earnings ratio of 380.21, a P/E/G ratio of 2.22 and a beta of 0.90.

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.