Scotia Boosts Cameco (TSE:CCO) Price Target to C$175.00

Key Points

• Scotia raised its target price on Cameco from C$150 to C$175 and kept a sector outperform rating, implying roughly a 4.1% upside from the prior close.
• MarketBeat's consensus is a Moderate Buy with an average price target of C$176.19, based on 15 analysts (1 Strong Buy, 12 Buy, 2 Hold).
• Shares climbed to C$168.10 (up C$11.86) with a market cap of C$73.21B; the company reported quarterly EPS of C$0.47 on C$845.37M in revenue.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its target price upped by Scotia from C$150.00 to C$175.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "sector outperform" rating on the stock. Scotia's target price would indicate a potential upside of 4.10% from the company's previous close.

Other research analysts also recently issued reports about the company. Berenberg Bank reduced their target price on Cameco from C$201.00 to C$183.00 in a report on Thursday, February 19th. Royal Bank Of Canada boosted their target price on Cameco from C$150.00 to C$160.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. Stifel Nicolaus boosted their target price on Cameco from C$165.00 to C$180.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Canaccord Genuity Group boosted their price objective on shares of Cameco from C$185.00 to C$195.00 in a research report on Wednesday. Finally, Scotiabank dropped their price objective on shares of Cameco from C$155.00 to C$150.00 and set an "outperform" rating for the company in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$176.19.

Cameco Price Performance

Shares of CCO traded up C$11.86 on Wednesday, hitting C$168.10. The company's stock had a trading volume of 722,170 shares, compared to its average volume of 1,018,123. The company has a market capitalization of C$73.21 billion, a PE ratio of 124.52, a PEG ratio of 2.22 and a beta of 0.76. The company has a debt-to-equity ratio of 14.82, a current ratio of 2.47 and a quick ratio of 3.74. Cameco has a fifty-two week low of C$66.09 and a fifty-two week high of C$182.72. The company has a 50 day moving average price of C$157.65 and a 200 day moving average price of C$145.58.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last announced its earnings results on Tuesday, May 5th. The company reported C$0.47 EPS for the quarter. The business had revenue of C$845.37 million for the quarter. Cameco had a return on equity of 8.76% and a net margin of 16.93%.

Cameco Company Profile

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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