Canaccord Genuity Group Raises Cameco (TSE:CCO) Price Target to C$195.00

Key Points

• Canaccord Genuity raised its price target on Cameco to C$195.00 (from C$185.00), implying roughly a 16% upside from the recent share price.
• Analyst consensus remains a "Moderate Buy" with 1 Strong Buy, 12 Buy and 2 Hold ratings and an average target of C$176.19 after multiple brokerages adjusted their forecasts.
• Cameco shares traded at C$168.10 (up C$11.86); the company reported quarterly EPS of C$0.47 on C$845.37M revenue, but carries a high valuation (PE ~124.52) and a 52‑week range of C$66.09–C$182.72.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its target price boosted by research analysts at Canaccord Genuity Group from C$185.00 to C$195.00 in a research note issued on Wednesday,BayStreet.CA reports. Canaccord Genuity Group's price objective would suggest a potential upside of 16.00% from the company's current price.

Several other brokerages have also recently weighed in on CCO. William Blair raised shares of Cameco to a "strong-buy" rating in a research note on Monday, April 20th. Desjardins upped their price objective on shares of Cameco from C$160.00 to C$185.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Berenberg Bank decreased their price objective on shares of Cameco from C$201.00 to C$183.00 in a research note on Thursday, February 19th. Scotiabank decreased their price objective on shares of Cameco from C$155.00 to C$150.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 17th. Finally, Sanford C. Bernstein upped their price objective on shares of Cameco from C$139.00 to C$201.00 in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$176.19.

Cameco Price Performance

TSE CCO traded up C$11.86 on Wednesday, reaching C$168.10. The company's stock had a trading volume of 722,170 shares, compared to its average volume of 1,018,123. The firm has a market cap of C$73.21 billion, a PE ratio of 124.52, a price-to-earnings-growth ratio of 2.22 and a beta of 0.76. The business has a 50-day moving average price of C$157.65 and a 200 day moving average price of C$145.58. Cameco has a 52 week low of C$66.09 and a 52 week high of C$182.72. The company has a current ratio of 2.47, a quick ratio of 3.74 and a debt-to-equity ratio of 14.82.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last posted its earnings results on Tuesday, May 5th. The company reported C$0.47 earnings per share for the quarter. The business had revenue of C$845.37 million for the quarter. Cameco had a net margin of 16.93% and a return on equity of 8.76%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.