Raymond James Financial Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Key Points

• Raymond James Financial has increased its price target for Cameco (TSE:CCO) from C$102.00 to C$115.00, suggesting a potential upside of 14.91% from the stock's previous close.
• Multiple analysts have also upgraded their targets for Cameco, with a consensus price target of C$103.85 and a majority rating it as a "buy."
• Cameco's stock performance has shown significant volatility, with a 1-year low of C$48.71 and a high of C$110.85, reflecting ongoing investor interest in uranium markets.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price objective increased by equities research analysts at Raymond James Financial from C$102.00 to C$115.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's price target indicates a potential upside of 14.91% from the stock's previous close.

Other analysts also recently issued reports about the stock. Desjardins upped their price objective on shares of Cameco from C$85.00 to C$105.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Berenberg Bank lifted their price objective on Cameco from C$75.00 to C$96.00 in a research note on Tuesday, June 10th. BMO Capital Markets increased their target price on Cameco from C$85.00 to C$95.00 and gave the company an "outperform" rating in a research note on Monday, June 9th. Scotiabank lifted their price target on Cameco from C$93.00 to C$95.00 in a research report on Monday, June 16th. Finally, Royal Bank Of Canada upped their price target on Cameco from C$90.00 to C$100.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$103.85.

Cameco Stock Performance

CCO traded down C$3.95 on Friday, hitting C$100.08. The company had a trading volume of 1,251,129 shares, compared to its average volume of 1,218,889. The stock has a market cap 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. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74. The company's fifty day moving average price is C$96.10 and its 200 day moving average price is C$75.69. Cameco has a 1-year low of C$48.71 and a 1-year high of C$110.85.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.