Scotiabank Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price objective raised by stock analysts at Scotiabank from C$93.00 to C$95.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Scotiabank's price objective would suggest a potential upside of 0.71% from the stock's previous close.

CCO has been the subject of a number of other research reports. Canaccord Genuity Group upped their price objective on shares of Cameco from C$83.50 to C$92.00 and gave the company a "buy" rating in a research note on Monday, June 9th. TD Securities increased their target price on shares of Cameco from C$77.00 to C$100.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Berenberg Bank increased their target price on shares of Cameco from C$75.00 to C$96.00 in a research report on Tuesday, June 10th. Bank of America increased their target price on shares of Cameco from C$93.00 to C$106.00 in a research report on Tuesday, June 10th. Finally, Raymond James Financial increased their target price on shares of Cameco from C$83.00 to C$88.00 and gave the stock an "outperform" rating in a research report on Monday, June 9th. Nine investment analysts have rated the stock with a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Cameco currently has a consensus rating of "Buy" and an average price target of C$94.93.

Cameco Trading Down 1.2%

Shares of TSE CCO traded down C$1.10 on Monday, reaching C$94.33. 316,321 shares of the company traded hands, compared to its average volume of 1,215,560. Cameco has a fifty-two week low of C$48.71 and a fifty-two week high of C$96.64. The company has a 50 day moving average of C$73.37 and a 200 day moving average of C$70.44. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35. The stock has a market capitalization of C$41.52 billion, a PE ratio of 356.41, a P/E/G ratio of 2.22 and a beta of 0.90.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.