National Bank Financial Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Key Points

• National Bank Financial raised its target on Cameco to C$175 (from C$170) and kept an "outperform" rating, implying roughly a 5.21% upside from the current price.
• Analyst sentiment is broadly positive with 11 Buy and 2 Hold ratings, a consensus target of C$174.85 ("Moderate Buy"), and several firms recently lifting targets up to C$185.
• Cameco traded at C$166.33 in the latest session, has a market cap of C$72.44 billion and a P/E of 123.2, reported quarterly EPS of C$0.50 on C$1.20 billion revenue, and remains one of the world's largest uranium producers with capacity to increase output.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its target price lifted by analysts at National Bank Financial from C$170.00 to C$175.00 in a report released on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price objective would suggest a potential upside of 5.21% from the stock's current price.

CCO has been the subject of several other reports. Scotiabank cut their target price on shares of 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 lifted their target price on shares of Cameco from C$175.00 to C$180.00 and gave the company an "outperform" rating in a report on Tuesday, March 3rd. Desjardins boosted their price target on shares of Cameco from C$160.00 to C$185.00 and gave the stock a "buy" rating in a report on Monday, January 26th. Stifel Nicolaus boosted their price target on shares of Cameco from C$165.00 to C$180.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Finally, Royal Bank Of Canada boosted their price target on shares of Cameco from C$150.00 to C$160.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$174.85.

Cameco Stock Performance

CCO traded up C$1.37 during trading on Friday, reaching C$166.33. 685,668 shares of the company's stock were exchanged, compared to its average volume of 1,043,457. Cameco has a 1 year low of C$53.89 and a 1 year high of C$182.72. 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 stock has a market capitalization of C$72.44 billion, a P/E ratio of 123.21, a price-to-earnings-growth ratio of 2.22 and a beta of 0.76. The company's fifty day simple moving average is C$156.45 and its 200-day simple moving average is C$141.91.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last posted its earnings results on Friday, February 13th. The company reported C$0.50 earnings per share for the quarter. The firm had revenue of C$1.20 billion during 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.

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