TD Securities Issues Positive Forecast for Cameco (TSE:CCO) Stock Price

Key Points

• TD Securities has raised its target price for Cameco (TSE:CCO) stock from C$115.00 to C$117.00, indicating a potential upside of 13.87% from its previous closing price, while maintaining a "buy" rating.
• Other brokerages have also increased their price targets for Cameco, with nine analysts rating the stock as a buy and four as a strong buy, reflecting strong market confidence.
• During midday trading, shares of Cameco increased by 2.1%, bringing its price to C$102.75 with a market capitalization of C$45.22 billion.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ had its price target hoisted by stock analysts at TD Securities from C$115.00 to C$117.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD Securities' price objective points to a potential upside of 10.38% from the stock's previous close.

A number of other analysts have also issued reports on CCO. Raymond James Financial boosted their target price on shares of Cameco from C$102.00 to C$115.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. National Bankshares boosted their target price on shares of Cameco from C$100.00 to C$110.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Scotiabank boosted their target price on shares of Cameco from C$100.00 to C$110.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Royal Bank Of Canada boosted their target price on shares of Cameco from C$100.00 to C$110.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Berenberg Bank upped their price objective on shares of Cameco from C$75.00 to C$96.00 in a research note on Tuesday, June 10th. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$106.31.

Cameco Trading Up 0.9%

Shares of CCO traded up C$0.99 during trading hours on Tuesday, reaching C$106.00. 1,567,456 shares of the company traded hands, compared to its average volume of 1,228,154. The firm has a market cap of C$46.65 billion, a price-to-earnings ratio of 400.50, a PEG ratio of 2.22 and a beta of 0.90. Cameco has a 12-month low of C$48.71 and a 12-month high of C$110.85. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35. The stock's fifty day moving average price is C$98.65 and its 200 day moving average price is C$76.92.

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.