Cameco (TSE:CCO) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Key Points

• Sanford C. Bernstein raised its target on Cameco to C$201 (from C$139), implying about a 34% upside from the then-current price.
• The stock carries a consensus Buy rating (1 Strong Buy, 12 Buy, 1 Hold) with an average analyst target of C$154.53, and several major banks (Bank of America, BMO, Desjardins, Scotiabank) recently adjusted their targets.
• Despite the upgrades, shares fell about 4.6% to C$149.65; Cameco trades with a market cap of C$65.16B and a high P/E (~123.7) after reporting quarterly EPS of C$0.07 and a net margin of 4.17%.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its target price upped by Sanford C. Bernstein from C$139.00 to C$201.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Sanford C. Bernstein's price objective would suggest a potential upside of 34.31% from the company's current price.

A number of other equities research analysts have also issued reports on CCO. Bank of America upped their target price on shares of Cameco from C$130.00 to C$175.00 and gave the company a "buy" rating in a research note on Wednesday, October 29th. Royal Bank Of Canada lowered their price objective on Cameco from C$160.00 to C$150.00 in a report on Thursday, November 13th. BMO Capital Markets increased their target price on Cameco from C$130.00 to C$160.00 in a report on Tuesday, November 4th. Desjardins lifted their target price on Cameco from C$160.00 to C$185.00 and gave the stock a "buy" rating in a research report on Monday, January 26th. Finally, Scotiabank boosted their price target on Cameco from C$150.00 to C$155.00 and gave the company an "outperform" rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of C$154.53.

Cameco Stock Down 4.6%

TSE:CCO traded down C$7.17 during trading hours on Thursday, hitting C$149.65. The stock had a trading volume of 1,368,621 shares, compared to its average volume of 1,220,364. The company has a market cap of C$65.16 billion, a PE ratio of 123.68, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The business has a 50 day simple moving average of C$141.73 and a two-hundred day simple moving average of C$124.85. Cameco has a 1-year low of C$49.75 and a 1-year high of C$182.72. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last issued its quarterly earnings data on Wednesday, November 5th. The company reported C$0.07 EPS for the quarter. The firm had revenue of C$614.56 million for the quarter. Cameco had a net margin of 4.17% and a return on equity of 1.89%.

About Cameco

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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