Cameco (TSE:CCO) Sets New 1-Year High - Should You Buy?

Key Points

• Cameco Co. reached a new 52-week high of C$116.38 on Monday, closing at C$116.27 with a trading volume of 915,468 shares.
• Analysts have raised their price targets for Cameco, with ratings including "buy" and "outperform," reflecting positive sentiment towards the company's performance.
• As one of the world's largest uranium producers, Cameco operates its flagship McArthur River mine, which typically accounts for about 50% of its output during normal market conditions.

Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ shares hit a new 52-week high during trading on Monday . The company traded as high as C$116.38 and last traded at C$116.27, with a volume of 915468 shares trading hands. The stock had previously closed at C$108.14.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CCO shares. Canaccord Genuity Group raised their price target on Cameco from C$92.00 to C$115.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. TD Securities raised their price target on Cameco from C$115.00 to C$117.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. BMO Capital Markets raised their price target on Cameco from C$110.00 to C$120.00 in a research report on Friday, August 29th. Royal Bank Of Canada raised their price target on Cameco from C$100.00 to C$110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus raised their price target on Cameco from C$105.00 to C$115.00 in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of C$109.69.

Cameco Stock Up 4.1%

The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74. The company has a market capitalization of C$51.63 billion, a price-to-earnings ratio of 97.20, a PEG ratio of 2.22 and a beta of 1.13. The firm has a 50-day moving average price of C$106.07 and a two-hundred day moving average price of C$84.43.

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.