Cameco (TSE:CCO) Price Target Raised to C$180.00 at National Bank Financial

Key Points

• National Bank Financial raised its price target on Cameco to C$180 (from C$175) and kept an "outperform" rating, implying about a 7.1% upside from the prior close.
• Multiple brokers also lifted targets — including Sanford C. Bernstein (C$201), CIBC (C$202) and Desjardins (C$185) — leaving a MarketBeat consensus of "Moderate Buy" with a consensus price target of C$176.19.
• Shares jumped ~7.6% to C$168.10 on the news, trading near the one‑year high; Cameco reported C$0.47 EPS and C$845.4M revenue for the quarter and carries a market cap of C$73.2B (P/E ~124.5).

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price objective increased by research analysts at National Bank Financial from C$175.00 to C$180.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price objective would indicate a potential upside of 7.08% from the stock's previous close.

Several other brokerages have also recently issued reports on CCO. Sanford C. Bernstein raised their target price on shares of Cameco from C$139.00 to C$201.00 in a report on Thursday, February 5th. Desjardins raised their target price on shares of Cameco from C$160.00 to C$185.00 and gave the stock a "buy" rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce lifted their price target on shares of Cameco from C$115.00 to C$202.00 in a report on Monday, March 9th. Royal Bank Of Canada lifted their price target on shares of Cameco from C$150.00 to C$160.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Finally, Stifel Nicolaus lifted their price target on shares of Cameco from C$165.00 to C$180.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Cameco has a consensus rating of "Moderate Buy" and a consensus price target of C$176.19.

Cameco Trading Up 7.6%

Shares of Cameco stock traded up C$11.86 on Wednesday, hitting C$168.10. The stock had a trading volume of 722,170 shares, compared to its average volume of 1,018,123. The company has a quick ratio of 3.74, a current ratio of 2.47 and a debt-to-equity ratio of 14.82. Cameco has a one year low of C$66.09 and a one year high of C$182.72. The stock has a market cap of C$73.21 billion, a price-to-earnings ratio of 124.52, a PEG ratio of 2.22 and a beta of 0.76. The stock's 50-day simple moving average is C$157.65 and its two-hundred day simple moving average is C$145.58.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last issued its earnings results on Tuesday, May 5th. The company reported C$0.47 earnings per share (EPS) for the quarter. Cameco had a net margin of 16.93% and a return on equity of 8.76%. The firm had revenue of C$845.37 million for the quarter.

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. 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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