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

Key Points

• Cameco Co. shares reached a new 52-week high of C$123.75, closing at C$122.18, with a trading volume of 470,283 shares.
• Equities analysts have raised their price targets for Cameco, with Bank of America setting a target of C$130.00 and the overall consensus price target now at C$113.46.
• Cameco is recognized as one of the world's largest uranium producers, with its McArthur River mine significantly contributing to its output during normal production.

Shares of Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ reached a new 52-week high on Monday . The company traded as high as C$123.75 and last traded at C$122.18, with a volume of 470283 shares. The stock had previously closed at C$117.50.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank Of Canada upped their price target on Cameco from C$100.00 to C$110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Stifel Nicolaus upped their target price on Cameco from C$105.00 to C$115.00 in a research note on Tuesday, July 22nd. Raymond James Financial lifted their price target on shares of Cameco from C$115.00 to C$120.00 in a research note on Thursday, August 21st. Bank of America increased their price objective on shares of Cameco from C$110.00 to C$130.00 in a research note on Friday, August 29th. Finally, National Bankshares raised their price objective on shares of Cameco from C$110.00 to C$115.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to data from MarketBeat, Cameco currently has a consensus rating of "Buy" and a consensus price target of C$113.46.

Cameco Stock Up 1.3%

The stock has a market capitalization of C$51.82 billion, a P/E ratio of 97.56, a P/E/G ratio of 2.22 and a beta of 1.12. 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 firm's fifty day moving average is C$108.78 and its 200-day moving average is C$89.13.

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.

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