Cameco (TSE:CCO) Price Target Raised to C$110.00 at Scotiabank

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 lifted by research analysts at Scotiabank from C$100.00 to C$110.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's price target indicates a potential upside of 6.74% from the stock's current price.

CCO has been the topic of a number of other research reports. Bank of America raised their target price on shares of Cameco from C$93.00 to C$106.00 in a research report on Tuesday, June 10th. Desjardins upped their price objective on shares of Cameco from C$105.00 to C$110.00 and gave the stock a "buy" rating in a research report on Friday. Canaccord Genuity Group increased their target price on shares of Cameco from C$92.00 to C$115.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Stifel Nicolaus increased their target price on shares of Cameco from C$105.00 to C$115.00 in a research note on Tuesday, July 22nd. Finally, Raymond James Financial raised their target price on shares of Cameco from C$102.00 to C$115.00 and gave the company an "outperform" rating in a report on Friday. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, Cameco has an average rating of "Buy" and an average target price of C$103.85.

Cameco Stock Up 2.4%

Cameco stock traded up C$2.42 during trading hours on Friday, hitting C$103.05. The stock had a trading volume of 575,221 shares, compared to its average volume of 1,218,374. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35. The stock's 50-day moving average price is C$96.85 and its 200-day moving average price is C$76.15. Cameco has a 12-month low of C$48.71 and a 12-month high of C$110.85. The stock has a market capitalization of C$45.36 billion, a P/E ratio of 389.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90.

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.