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 target price lifted by analysts at TD Securities from C$115.00 to C$117.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD Securities' target price suggests a potential upside of 13.87% from the stock's previous close.

Several other brokerages also recently issued reports on CCO. Canaccord Genuity Group raised their price target on Cameco from C$92.00 to C$115.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Bank of America lifted their target price on Cameco from C$93.00 to C$106.00 in a research report on Tuesday, June 10th. Stifel Nicolaus lifted their target price on Cameco from C$105.00 to C$115.00 in a research report on Tuesday, July 22nd. Scotiabank lifted their target price on Cameco from C$100.00 to C$110.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Desjardins lifted their target price on Cameco from C$105.00 to C$110.00 and gave the stock a "buy" rating in a research report on Friday. 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 company has an average rating of "Buy" and an average target price of C$106.31.

Cameco Stock Up 2.1%

Shares of TSE:CCO traded up C$2.12 during midday trading on Tuesday, hitting C$102.75. 857,201 shares of the stock were exchanged, compared to its average volume of 1,220,305. Cameco has a 52-week low of C$48.71 and a 52-week high of C$110.85. The business's fifty day simple moving average is C$96.85 and its two-hundred day simple moving average is C$76.15. 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 company has a market capitalization of C$45.22 billion, a PE ratio of 388.22, a P/E/G ratio of 2.22 and a beta of 0.90.

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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