Cameco (TSE:CCO) Upgraded to Buy at UBS Group

Key Points

• UBS Group upgraded Cameco to “buy” from “neutral” and set a C$166 price target, implying 32.82% upside from the prior close.
• Analyst sentiment is broadly positive: Cameco has an average “Buy” rating and an average price target of C$175.61, with multiple firms issuing or maintaining strong-buy and outperform ratings.
• Cameco shares traded at C$124.98, while the company reported C$0.47 in quarterly EPS and C$845.37 million in revenue in its latest earnings release.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ was upgraded by research analysts at UBS Group from a "neutral" rating to a "buy" rating in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a C$166.00 price target on the stock. UBS Group's price target points to a potential upside of 32.82% from the company's previous close.

Several other brokerages have also commented on CCO. Barclays lowered their price objective on shares of Cameco from C$149.00 to C$147.00 in a research report on Thursday, July 16th. Truist Financial upgraded shares of Cameco to a "strong-buy" rating in a research note on Monday, July 13th. Desjardins lifted their price target on shares of Cameco from C$185.00 to C$190.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on shares of Cameco from C$160.00 to C$175.00 and gave the stock an "outperform" rating in a report on Monday, June 29th. Finally, William Blair upgraded Cameco to a "strong-buy" rating in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of C$175.61.

Cameco Stock Performance

TSE:CCO traded up C$1.11 during trading on Monday, reaching C$124.98. The company's stock had a trading volume of 512,942 shares, compared to its average volume of 1,019,219. Cameco has a 12 month low of C$95.60 and a 12 month high of C$182.72. The firm has a market cap of C$54.43 billion, a price-to-earnings ratio of 83.88, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The firm has a 50 day moving average of C$142.13 and a 200-day moving average of C$152.91. The company has a debt-to-equity ratio of 14.11, a quick ratio of 3.74 and a current ratio of 3.08.

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

Insider Transactions at Cameco

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

About Cameco

Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power.

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