Cameco (TSE:CCO) Price Target Raised to C$190.00 at Desjardins

Key Points

• Desjardins raised its price target on Cameco from C$185.00 to C$190.00 and maintained a buy rating, implying about a 13.03% upside from the current price.
• Several other brokers also lifted targets (RBC, National Bank, Raymond James, Sanford C. Bernstein, Canaccord), and MarketBeat data shows a consensus rating of Moderate Buy with a consensus target of C$176.19.
• Shares jumped about 7.6% to C$168.10 on the news; Cameco has a market cap of C$73.21 billion and a high trailing PE of 124.52, and it reported quarterly EPS of C$0.47 on C$845.37 million in revenue.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price target upped by Desjardins from C$185.00 to C$190.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' target price points to a potential upside of 13.03% from the stock's current price.

Several other research analysts have also recently issued reports on CCO. Royal Bank Of Canada upped their price objective on Cameco from C$150.00 to C$160.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 17th. National Bank Financial upped their price objective on Cameco from C$175.00 to C$180.00 and gave the stock an "outperform" rating in a research report on Wednesday. Raymond James Financial upped their price objective on Cameco from C$175.00 to C$180.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. Sanford C. Bernstein upped their target price on Cameco from C$139.00 to C$201.00 in a research report on Thursday, February 5th. Finally, Canaccord Genuity Group upped their target price on Cameco from C$185.00 to C$195.00 in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Cameco presently has a consensus rating of "Moderate Buy" and a consensus target price of C$176.19.

Cameco Stock Up 7.6%

Shares of TSE:CCO traded up C$11.86 on Wednesday, hitting C$168.10. 722,170 shares of the company's stock were exchanged, compared to its average volume of 1,018,123. The firm's 50-day moving average is C$157.65 and its 200 day moving average is C$145.58. The company has a market capitalization of C$73.21 billion, a PE ratio of 124.52, a P/E/G ratio of 2.22 and a beta of 0.76. Cameco has a 1-year low of C$66.09 and a 1-year high of C$182.72. The company has a debt-to-equity ratio of 14.82, a quick ratio of 3.74 and a current ratio of 2.47.

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

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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