Cameco (TSE:CCO – Get Free Report) (NYSE:CCJ) released its earnings results on Tuesday. The company reported C$0.47 earnings per share for the quarter, FiscalAI reports. Cameco had a return on equity of 8.76% and a net margin of 16.93%.The firm had revenue of C$845.37 million for the quarter.
Cameco Trading Down 3.1%
TSE CCO opened at C$156.24 on Wednesday. The firm has a market cap of C$68.05 billion, a P/E ratio of 115.73, a P/E/G 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. The stock’s 50-day moving average is C$157.65 and its 200-day moving average is C$145.58. Cameco has a one year low of C$62.69 and a one year high of C$182.72.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on CCO. Desjardins increased their target price on Cameco from C$160.00 to C$185.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Berenberg Bank cut their target price on Cameco from C$201.00 to C$183.00 in a research note on Thursday, February 19th. Scotiabank cut their target price on Cameco from C$155.00 to C$150.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Stifel Nicolaus increased their target price on Cameco from C$165.00 to C$180.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and an average price target of C$174.85.
About Cameco
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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