Cameco (TSE:CCO) Hits New 1-Year High After Analyst Upgrade

Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ's stock price hit a new 52-week high during mid-day trading on Monday after Berenberg Bank raised their price target on the stock from C$75.00 to C$96.00. The company traded as high as C$90.30 and last traded at C$90.24, with a volume of 636975 shares changing hands. The stock had previously closed at C$82.74.

A number of other research analysts also recently weighed in on CCO. Scotiabank raised their price objective on Cameco from C$88.00 to C$93.00 and gave the company an "outperform" rating in a research note on Monday. Sanford C. Bernstein raised Cameco to a "strong-buy" rating in a research report on Tuesday, April 1st. National Bankshares raised their target price on Cameco from C$81.00 to C$95.00 in a report on Monday. BMO Capital Markets lifted their price target on Cameco from C$85.00 to C$95.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Stifel Canada raised Cameco to a "strong-buy" rating in a research report on Wednesday, March 12th. Eight research analysts have rated the stock with a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of C$92.92.

Cameco Stock Up 3.8%

The stock has a market capitalization of C$39.90 billion, a P/E ratio of 342.50, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. 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 stock has a fifty day moving average price of C$67.95 and a 200 day moving average price of C$69.85.

Cameco Company Profile

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.