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 - Get Free Report) NYSE: CCJ had its price target boosted by analysts at Royal Bank Of Canada from C$100.00 to C$110.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 9.91% from the company's current price.

A number of other analysts have also weighed in on CCO. BMO Capital Markets raised their price target on shares of Cameco from C$85.00 to C$95.00 and gave the company an "outperform" rating in a report on Monday, June 9th. Stifel Nicolaus boosted their target price on Cameco from C$105.00 to C$115.00 in a research report on Tuesday, July 22nd. TD Securities raised their target price on shares of Cameco from C$77.00 to C$100.00 and gave the company a "buy" rating in a research note on Monday, June 9th. National Bankshares lifted their price target on shares of Cameco from C$100.00 to C$110.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Scotiabank boosted their price target on shares of Cameco from C$93.00 to C$95.00 in a research note on Monday, June 16th. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of C$103.85.

Cameco Price Performance

Cameco stock traded down C$3.95 on Friday, reaching C$100.08. The company's stock had a trading volume of 1,251,129 shares, compared to its average volume of 1,218,889. Cameco has a twelve month low of C$48.71 and a twelve month high of C$110.85. The company has a market cap of C$44.05 billion, a price-to-earnings ratio of 378.13, a PEG ratio of 2.22 and a beta of 0.90. 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 business's fifty day moving average price is C$96.10 and its 200 day moving average price is C$75.69.

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.

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