Desjardins Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Key Points

• Desjardins has raised its target price for Cameco (TSE: CCO) stock from C$105.00 to C$110.00, indicating a potential upside of 9.91% from the previous close, with a "buy" rating.
• Other analysts have also increased their target prices for Cameco, with BMO Capital Markets lifting it to C$95.00 and Stifel Nicolaus to C$115.00, showcasing strong overall analyst support for the stock.
• Cameco's stock recently traded at C$100.08 and has shown significant trading volume, along with a market capitalization of C$44.05 billion and a price-to-earnings ratio of 378.13.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its target price lifted by stock analysts at Desjardins from C$105.00 to C$110.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price target indicates a potential upside of 9.91% from the stock's previous close.

CCO has been the subject of several other reports. BMO Capital Markets raised their target price on shares of Cameco from C$85.00 to C$95.00 and gave the company an "outperform" rating in a research note on Monday, June 9th. Stifel Nicolaus lifted their target price on Cameco from C$105.00 to C$115.00 in a report on Tuesday, July 22nd. National Bankshares boosted 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 Thursday, July 24th. Scotiabank raised their price target on Cameco from C$93.00 to C$95.00 in a report on Monday, June 16th. Finally, TD Securities lifted their price objective on Cameco from C$77.00 to C$100.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Cameco has an average rating of "Buy" and an average price target of C$103.85.

Cameco Price Performance

CCO stock traded down C$3.95 during midday trading on Friday, hitting C$100.08. The company's stock had a trading volume of 1,251,129 shares, compared to its average volume of 1,218,889. 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 12 month low of C$48.71 and a 12 month high of C$110.85. The company has a 50 day moving average of C$96.10 and a two-hundred day moving average of C$75.69. The firm has a market capitalization of C$44.05 billion, a price-to-earnings ratio of 378.13, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.

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