Yellow Cake (LON:YCA) Earns Buy Rating from Canaccord Genuity Group

Key Points

• Canaccord Genuity reiterated a Buy rating on Yellow Cake with a GBX 740 price target, implying about a 23.39% upside from the stock's current level.
• Analyst sentiment is broadly positive—five analysts rate the stock Buy with an average price target of GBX 678.80, and recent moves include Citi raising its target to GBX 700 and Berenberg setting GBX 704.
• Yellow Cake provides direct exposure to the uranium spot price by buying and holding U3O8 and benefits from a ten-year Framework Agreement with Kazatomprom; the company has a market cap of about £1.52 billion and trades near GBX 600.

Yellow Cake (LON:YCA - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Canaccord Genuity Group in a research note issued to investors on Monday,Digital Look reports. They currently have a GBX 740 price objective on the stock. Canaccord Genuity Group's price target points to a potential upside of 23.39% from the company's current price.

Several other equities research analysts also recently issued reports on YCA. Citigroup increased their price objective on Yellow Cake from GBX 670 to GBX 700 and gave the stock a "buy" rating in a research note on Thursday, January 15th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 704 price objective on shares of Yellow Cake in a research report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of GBX 678.80.

Yellow Cake Price Performance

YCA stock opened at GBX 599.74 on Monday. The firm has a market capitalization of £1.52 billion, a P/E ratio of -149.93 and a beta of 0.26. Yellow Cake has a 52-week low of GBX 423.60 and a 52-week high of GBX 751.52. The company's 50 day simple moving average is GBX 609.04 and its 200-day simple moving average is GBX 592.02.

Yellow Cake Company Profile

Yellow Cake is a London-quoted company, incorporated in Jersey, which offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding U3O8. It may also seek to add value through other uranium-related activities. Yellow Cake and its wholly owned subsidiary (the "Group") seek to generate returns for shareholders through the appreciation of the value of its holding of U3O8 and its other uranium-related activities in a rising uranium price environment. The business is differentiated from its peers by its ten-year Framework Agreement for the supply of U3O8 with Kazatomprom, the world's largest uranium producer.

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