Cameco (TSE:CCO) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank has raised its price target for Cameco from C$100.00 to C$110.00, indicating a potential upside of 9.91% from the current stock price and maintaining an "outperform" rating.
• Multiple research firms have also increased their target prices for Cameco, with a consensus target price of C$103.85 and nine analysts giving the stock a "buy" rating.
• Cameco's current trading price is C$100.08, with a market cap of C$44.05 billion and a 1-year high of C$110.85, reflecting its strong performance in the uranium market.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price target increased by analysts at Scotiabank from C$100.00 to C$110.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's price target indicates a potential upside of 9.91% from the company's current price.

A number of other research firms have also recently commented on CCO. Bank of America raised their target price on shares of Cameco from C$93.00 to C$106.00 in a research note on Tuesday, June 10th. BMO Capital Markets increased their price objective on shares of Cameco from C$85.00 to C$95.00 and gave the stock an "outperform" rating in a research note on Monday, June 9th. Raymond James Financial lifted their target price on shares of Cameco from C$102.00 to C$115.00 and gave the company an "outperform" rating in a research note on Friday. Canaccord Genuity Group upped their target price on shares of Cameco from C$92.00 to C$115.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Stifel Nicolaus raised their price target on Cameco from C$105.00 to C$115.00 in a report on Tuesday, July 22nd. Nine equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$103.85.

Cameco Stock Performance

CCO traded down C$3.95 during midday trading on Friday, reaching C$100.08. The company had a trading volume of 1,251,129 shares, compared to its average volume of 1,218,889. The business has a 50-day moving average of C$96.10 and a two-hundred day moving average of C$75.69. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35. Cameco has a 1 year low of C$48.71 and a 1 year high of C$110.85. The company has a market cap of C$44.05 billion, a P/E ratio of 378.13, 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.

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