Cameco (TSE:CCO) Price Target Raised to C$130.00

Key Points

• Scotiabank has raised its price target for Cameco (TSE:CCO) from C$110.00 to C$130.00, keeping an "outperform" rating on the stock.
• Other analysts, including Bank of America, Royal Bank of Canada, and BMO Capital Markets, have also increased their price targets for Cameco, reflecting a positive outlook for the company.
• Cameco's shares saw a significant increase, trading up C$12.31 to reach C$133.66, with a market capitalization of C$58.19 billion.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price objective upped by stock analysts at Scotiabank from C$110.00 to C$130.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's price target indicates a potential downside of 2.74% from the company's previous close.

CCO has been the subject of several other research reports. Bank of America boosted their price target on shares of Cameco from C$110.00 to C$130.00 in a research report on Friday, August 29th. Royal Bank Of Canada raised their price objective on shares of Cameco from C$100.00 to C$110.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Stifel Nicolaus increased their price target on Cameco from C$105.00 to C$115.00 in a research note on Tuesday, July 22nd. National Bankshares upped their price objective on Cameco from C$110.00 to C$115.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. Finally, BMO Capital Markets boosted their price target on shares of Cameco from C$110.00 to C$120.00 in a research report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$114.99.

Cameco Stock Performance

Shares of CCO traded up C$12.31 during mid-day trading on Tuesday, reaching C$133.66. 1,177,077 shares of the company's stock traded hands, compared to its average volume of 1,240,453. The business's 50-day moving average price is C$110.67 and its 200-day moving average price is C$91.57. The stock has a market capitalization of C$58.19 billion, a P/E ratio of 109.56, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88. Cameco has a 12 month low of C$49.75 and a 12 month high of C$134.70.

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.

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