Cameco (TSE:CCO) Price Target Raised to C$202.00 at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Cameco to C$202 (from C$115), implying roughly a 30.71% upside from the company's current price.
• Analyst sentiment remains largely positive with a consensus rating of Buy and an average price target of C$174.85 after multiple firms adjusted targets and ratings.
• Shares climbed about 3.7% to C$154.54 intraday; Cameco reported quarterly EPS of C$0.50 on revenue of C$1.20 billion and a market cap near C$67.31 billion.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price objective increased by stock analysts at Canadian Imperial Bank of Commerce from C$115.00 to C$202.00 in a note issued to investors on Monday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price objective indicates a potential upside of 30.71% from the company's current price.

A number of other equities research analysts have also recently issued reports on CCO. Canaccord Genuity Group decreased their price objective on shares of Cameco from C$190.00 to C$185.00 in a report on Tuesday, February 17th. UBS Group upgraded Cameco to a "hold" rating in a report on Monday, November 10th. Stifel Nicolaus boosted their price target on Cameco from C$165.00 to C$180.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Sanford C. Bernstein upped their price target on Cameco from C$139.00 to C$201.00 in a research note on Thursday, February 5th. Finally, Scotiabank cut their price objective on Cameco from C$155.00 to C$150.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of C$174.85.

Cameco Stock Up 3.7%

CCO traded up C$5.52 during midday trading on Monday, hitting C$154.54. 524,074 shares of the company's stock traded hands, compared to its average volume of 1,107,362. The company has a debt-to-equity ratio of 14.82, a current ratio of 2.47 and a quick ratio of 3.74. The company has a market cap of C$67.31 billion, a PE ratio of 114.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. The stock's fifty day simple moving average is C$156.84 and its 200-day simple moving average is C$133.44. Cameco has a one year low of C$49.75 and a one year high of C$182.72.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last posted its earnings results on Friday, February 13th. The company reported C$0.50 EPS for the quarter. Cameco had a net margin of 16.93% and a return on equity of 8.76%. The company had revenue of C$1.20 billion during 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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