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

Key Points

• Desjardins raised its price target on Cameco from C$160 to C$185 and maintained a "buy" rating, implying about a 11.71% upside from the current price.
• Analyst consensus remains positive with one Strong Buy, twelve Buys and one Hold, but the average target across firms is lower at C$149.76.
• Cameco shares traded down to C$165.61 (down ~2.5%), with a market cap of C$72.11B, a high PE of 136.87, and a 52-week range of C$49.75–C$175.90.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price target raised by Desjardins from C$160.00 to C$185.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' target price points to a potential upside of 11.71% from the stock's current price.

Several other equities research analysts have also recently issued reports on the stock. UBS Group raised shares of Cameco to a "hold" rating in a research note on Monday, November 10th. Sanford C. Bernstein dropped their target price on Cameco from C$141.00 to C$139.00 in a report on Thursday, January 8th. Royal Bank Of Canada cut their price objective on shares of Cameco from C$160.00 to C$150.00 in a research report on Thursday, November 13th. TD Securities increased their price objective on Cameco from C$150.00 to C$185.00 in a research report on Thursday. Finally, Bank of America lifted their price objective on Cameco from C$130.00 to C$175.00 and gave the company a "buy" rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$149.76.

Cameco Stock Down 2.5%

Shares of CCO stock traded down C$4.28 during trading hours on Monday, reaching C$165.61. 622,422 shares of the company's stock were exchanged, compared to its average volume of 1,086,679. Cameco has a 1 year low of C$49.75 and a 1 year high of C$175.90. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35. The stock has a market cap of C$72.11 billion, a PE ratio of 136.87, a PEG ratio of 2.22 and a beta of 1.19. The stock's fifty day moving average price is C$133.47 and its two-hundred day moving average price is C$121.24.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last posted its quarterly earnings results on Wednesday, November 5th. The company reported C$0.07 earnings per share for the quarter. The business had revenue of C$614.56 million for the quarter. Cameco had a return on equity of 1.89% and a net margin of 4.17%.

Cameco Company Profile

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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