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

Key Points

• TD raised Cameco’s price target from C$185 to C$190 and kept a buy rating, implying about 47.6% upside from the previous close.
• Other analysts remain broadly positive: Cameco has an average Moderate Buy rating, with several firms recently lifting targets, though TD Securities earlier downgraded it to hold and Barclays is more cautious.
• The stock rose 0.8% to C$128.70, while the company also reported its latest quarterly results with C$0.47 EPS and C$845.37 million in revenue.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price target hoisted by research analysts at TD from C$185.00 to C$190.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD's price target would suggest a potential upside of 47.63% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. TD Securities downgraded Cameco from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Canaccord Genuity Group raised their price target on Cameco from C$185.00 to C$195.00 in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on Cameco from C$160.00 to C$175.00 and gave the stock an "outperform" rating in a research report on Monday, June 29th. Desjardins increased their price objective on shares of Cameco from C$185.00 to C$190.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, Barclays set a C$149.00 price objective on shares of Cameco and gave the company an "equal weight" rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$176.29.

Cameco Stock Up 0.8%

Shares of CCO traded up C$1.03 on Tuesday, reaching C$128.70. The stock had a trading volume of 567,263 shares, compared to its average volume of 1,008,317. The firm has a market capitalization of C$56.05 billion, a price-to-earnings ratio of 86.38, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The company has a debt-to-equity ratio of 14.11, a quick ratio of 3.74 and a current ratio of 3.08. The company has a 50-day simple moving average of C$148.36 and a 200-day simple moving average of C$153.18. Cameco has a 12-month low of C$95.60 and a 12-month high of C$182.72.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last posted its quarterly earnings data on Tuesday, May 5th. The company reported C$0.47 earnings per share (EPS) for the quarter. The business had revenue of C$845.37 million during the quarter. Cameco had a return on equity of 9.47% and a net margin of 18.39%.

Insiders Place Their Bets

In other Cameco news, insider Alexandre Aubin sold 300 shares of the business's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of C$148.53, for a total value of C$44,559.00. Following the completion of the transaction, the insider owned 20 shares of the company's stock, valued at approximately C$2,970.60. The trade was a 93.75% decrease in their position. Company insiders own 0.15% of the company's stock.

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. 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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