Cameco (TSE:CCO) Price Target Cut to C$147.00 by Analysts at Barclays

Key Points

• Barclays cut Cameco’s price target to C$147.00 from C$149.00, though that still implies about 20.27% upside from the current share price.
• Analyst sentiment remains generally positive: Cameco’s consensus rating is Moderate Buy, with an average price target of C$176.17 after several firms recently raised targets or upgraded the stock.
• Cameco shares fell to C$122.23 on the day, and the company recently reported quarterly earnings of C$0.47 per share on revenue of C$845.37 million.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price target reduced by analysts at Barclays from C$149.00 to C$147.00 in a report issued on Thursday,BayStreet.CA reports. Barclays's price target points to a potential upside of 20.27% from the company's current price.

Other equities analysts also recently issued reports about the company. William Blair raised Cameco to a "strong-buy" rating in a research report on Monday, April 20th. Scotia increased their target price on shares of Cameco from C$150.00 to C$175.00 and gave the stock a "sector outperform" rating in a report on Wednesday, May 6th. TD boosted their price target on shares of Cameco from C$185.00 to C$190.00 and gave the stock a "buy" rating in a research note on Tuesday. Royal Bank Of Canada increased their price objective on Cameco from C$160.00 to C$175.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Finally, TD Securities lowered Cameco from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cameco has a consensus rating of "Moderate Buy" and an average price target of C$176.17.

Cameco Price Performance

Shares of TSE CCO traded down C$5.46 during mid-day trading on Thursday, reaching C$122.23. The company's stock had a trading volume of 717,393 shares, compared to its average volume of 1,006,850. Cameco has a 1-year low of C$95.60 and a 1-year high of C$182.72. The stock has a market capitalization of C$53.24 billion, a P/E ratio of 82.03, a P/E/G ratio of 2.22 and a beta of 0.81. The company has a debt-to-equity ratio of 14.11, a quick ratio of 3.74 and a current ratio of 3.08. The stock has a 50-day moving average of C$146.99 and a two-hundred day moving average of C$153.19.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$0.47 earnings per share for the quarter. Cameco had a net margin of 18.39% and a return on equity of 9.47%. The firm had revenue of C$845.37 million for the quarter.

Insider Transactions at Cameco

In related news, insider Alexandre Aubin sold 300 shares of Cameco stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of C$148.53, for a total transaction of C$44,559.00. Following the completion of the transaction, the insider directly owned 20 shares in the company, valued at C$2,970.60. The trade was a 93.75% decrease in their position. Insiders own 0.15% of the company's stock.

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.

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