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

Key Points

• Raymond James raised its price target on Cameco to C$180, a move that implies roughly a 10.42% upside from the prior close.
• Analyst coverage is broadly positive — one firm rates Cameco a Strong Buy, twelve rate it Buy and one rates it Hold, with an average price target of C$159.15.
• Shares were trading around C$163.01 with a market cap of C$70.98 billion and a high P/E of 134.72; Cameco is one of the world’s largest uranium producers, with the McArthur River mine supplying roughly half of its output under normal operations.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its target price lifted by equities researchers at Raymond James Financial from C$165.00 to C$180.00 in a research report issued on Monday,BayStreet.CA reports. Raymond James Financial's price target indicates a potential upside of 10.42% from the company's previous close.

CCO has been the topic of a number of other reports. Bank of America raised their price target on Cameco from C$130.00 to C$175.00 and gave the company a "buy" rating in a report on Wednesday, October 29th. Sanford C. Bernstein raised their price target on Cameco from C$139.00 to C$201.00 in a report on Thursday. Scotiabank lifted their price objective on Cameco from C$150.00 to C$155.00 and gave the stock an "outperform" rating in a research note on Thursday, January 8th. Royal Bank Of Canada cut their target price on shares of Cameco from C$160.00 to C$150.00 in a report on Thursday, November 13th. Finally, Stifel Nicolaus upped their price target on shares of Cameco from C$150.00 to C$165.00 and gave the company a "buy" rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Cameco presently has an average rating of "Buy" and an average price target of C$159.15.

Cameco Stock Performance

Shares of TSE CCO traded up C$7.83 during midday trading on Monday, hitting C$163.01. 492,278 shares of the company's stock traded hands, compared to its average volume of 1,196,957. Cameco has a 1 year low of C$49.75 and a 1 year high of C$182.72. The stock has a market capitalization of C$70.98 billion, a price-to-earnings ratio of 134.72, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88. The firm has a fifty day moving average of C$142.85 and a 200 day moving average of C$125.63.

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

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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