Royal Bank Of Canada Issues Positive Forecast for Cameco (TSE:CCO) Stock Price

Key Points

• Royal Bank Of Canada increased its price target for Cameco (TSE:CCO) from C$100.00 to C$110.00, suggesting a potential upside of 9.91% from the current price, with an "outperform" rating.
• Other analysts including BMO Capital Markets, Stifel Nicolaus, and TD Securities have also raised their price targets, contributing to an average rating of "Buy" with a consensus target of C$103.85.
• Cameco's stock is currently trading at C$100.08, with a 12-month high of C$110.85 and a market cap of C$44.05 billion.

Cameco (TSE:CCO - Free Report) NYSE: CCJ had its target price raised by Royal Bank Of Canada from C$100.00 to C$110.00 in a report published on Friday,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on CCO. Bank of America raised their price objective on shares of Cameco from C$93.00 to C$106.00 in a research note on Tuesday, June 10th. Raymond James Financial raised their price objective on shares of Cameco from C$102.00 to C$115.00 and gave the stock an "outperform" rating in a research note on Friday. TD Securities raised their price objective on shares of Cameco from C$77.00 to C$100.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Scotiabank lifted their price target on shares of Cameco from C$93.00 to C$95.00 in a research note on Monday, June 16th. Finally, Berenberg Bank lifted their price target on shares of Cameco from C$75.00 to C$96.00 in a research note on Tuesday, June 10th. Nine analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$103.85.

Cameco Trading Up 2.4%

Shares of TSE:CCO traded up C$2.42 during trading on Friday, reaching C$103.05. The company's stock had a trading volume of 575,221 shares, compared to its average volume of 1,218,374. The company has a current ratio of 2.88, a quick ratio of 3.74 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 firm's 50 day simple moving average is C$96.85 and its two-hundred day simple moving average is C$76.15. The stock has a market capitalization of C$45.36 billion, a PE ratio of 389.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90.

Cameco Company Profile

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.