Cameco (TSE:CCO) Upgraded to Strong-Buy at William Blair

Key Points

• William Blair upgraded Cameco to a "Strong-Buy", though the stock's consensus from analysts remains a "Moderate Buy" with a consensus target price of C$174.85.
• Cameco shares rose about 2.1%, opening at C$168.71 with a market capitalization of C$73.48 billion, a P/E of 124.97, and a 1‑year range of C$53.89–C$182.72.
• In the latest quarter Cameco reported C$0.50 EPS on C$1.20 billion of revenue and a 16.93% net margin, and it remains one of the world's largest uranium producers with McArthur River supplying roughly 50% of output in normal conditions.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ was upgraded by equities research analysts at William Blair to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

CCO has been the subject of several other reports. Berenberg Bank reduced their target price on Cameco from C$201.00 to C$183.00 in a report on Thursday, February 19th. Scotiabank reduced their target price on Cameco from C$155.00 to C$150.00 and set an "outperform" rating for the company in a report on Tuesday, February 17th. Raymond James Financial boosted their target price on Cameco from C$175.00 to C$180.00 and gave the company an "outperform" rating in a report on Tuesday, March 3rd. Stifel Nicolaus boosted their target price on Cameco from C$165.00 to C$180.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Finally, TD Securities downgraded Cameco from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$174.85.

Cameco Stock Up 2.1%

Shares of TSE CCO opened at C$168.71 on Monday. The company has a market capitalization of C$73.48 billion, a price-to-earnings ratio of 124.97, a price-to-earnings-growth ratio of 2.22 and a beta of 0.76. The company has a debt-to-equity ratio of 14.82, a current ratio of 2.47 and a quick ratio of 3.74. The business has a 50-day moving average of C$156.76 and a two-hundred day moving average of C$142.96. Cameco has a 1 year low of C$53.89 and a 1 year high of C$182.72.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last announced its quarterly earnings results on Friday, February 13th. The company reported C$0.50 earnings per share (EPS) for the quarter. Cameco had a return on equity of 8.76% and a net margin of 16.93%.The company had revenue of C$1.20 billion during the quarter.

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. 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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