Cameco (TSE:CCO) Upgraded at President Capital

Key Points

• Cameco stock has been upgraded from a "neutral" to a "buy" rating by President Capital, with a new price objective of C$126.92 suggesting a potential upside of 6.28%.
• Several brokerages have recently raised their price targets for Cameco, with most analysts giving it an average rating of "Buy" and a target price of C$110.92.
• Cameco, a leading uranium producer, has a market capitalization of C$51.99 billion and its stock traded at C$119.42, reflecting its performance amid fluctuating uranium prices.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ was upgraded by equities research analysts at President Capital from a "neutral" rating to a "buy" rating in a report issued on Monday,BayStreet.CA reports. The firm presently has a C$126.92 price target on the stock. President Capital's target price points to a potential upside of 4.25% from the stock's current price.

A number of other equities analysts also recently weighed in on the company. BMO Capital Markets upped their target price on Cameco from C$110.00 to C$120.00 in a report on Friday, August 29th. CLSA raised Cameco to a "moderate buy" rating in a research note on Tuesday, September 9th. Berenberg Bank boosted their price target on Cameco from C$75.00 to C$96.00 in a research note on Tuesday, June 10th. National Bankshares boosted their price target on Cameco from C$110.00 to C$115.00 and gave the company an "outperform" rating in a research note on Friday, August 22nd. Finally, Royal Bank Of Canada upped their target price on Cameco from C$100.00 to C$110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company's stock. Based on data from MarketBeat, Cameco has a consensus rating of "Buy" and a consensus target price of C$110.92.

Cameco Trading Up 2.1%

TSE CCO traded up C$2.51 on Monday, hitting C$121.74. 274,409 shares of the company were exchanged, compared to its average volume of 1,239,325. The company's 50 day moving average price is C$106.79 and its 200-day moving average price is C$85.58. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74. The firm has a market capitalization of C$53.00 billion, a P/E ratio of 99.79, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. Cameco has a twelve month low of C$49.75 and a twelve month high of C$122.11.

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.