Cameco (TSE:CCO) Upgraded by CLSA to "Moderate Buy" Rating

Key Points

• Cameco has been upgraded to a "moderate buy" rating by CLSA, reflecting analysts' positive outlook on the stock.
• Multiple analysts have raised their price targets for Cameco, with Bank of America increasing it to C$130.00, indicating strong demand for the stock.
• The company's current consensus rating stands at "Buy" with an average price target of C$109.69, underscoring investor confidence in its growth potential.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ was upgraded by stock analysts at CLSA to a "moderate buy" rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on CCO. Stifel Nicolaus raised their price objective on shares of Cameco from C$105.00 to C$115.00 in a report on Tuesday, July 22nd. TD Securities increased their price target on shares of Cameco from C$115.00 to C$117.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Raymond James Financial increased their price target on Cameco from C$115.00 to C$120.00 in a report on Thursday, August 21st. Canaccord Genuity Group upped their price objective on Cameco from C$92.00 to C$115.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Scotiabank increased their target price on shares of Cameco from C$100.00 to C$110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of C$109.69.

Cameco Trading Up 4.3%

TSE:CCO traded up C$4.66 on Tuesday, reaching C$112.80. 570,947 shares of the company's stock were exchanged, compared to its average volume of 1,220,454. The business has a fifty day moving average of C$104.87 and a 200-day moving average of C$83.28. 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 52-week low of C$49.75 and a 52-week high of C$114.25. The firm has a market capitalization of C$49.11 billion, a price-to-earnings ratio of 92.46, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13.

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.