Cameco (TSE:CCO) Upgraded by Truist Financial to “Strong-Buy” Rating

Truist Financial upgraded shares of Cameco (TSE:CCO – Free Report) (NYSE:CCJ) to a strong-buy rating in a report released on Monday,Zacks.com reports.

CCO has been the subject of several other reports. Barclays set a C$149.00 price objective on Cameco and gave the stock an “equal weight” rating in a report on Friday, May 22nd. William Blair upgraded Cameco to a “strong-buy” rating in a research note on Monday, April 20th. Canaccord Genuity Group upped their target price on Cameco from C$185.00 to C$195.00 in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their target price on Cameco from C$160.00 to C$175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Finally, Desjardins raised their price target on Cameco from C$185.00 to C$190.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$176.29.

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Cameco Stock Up 0.9%

Cameco stock opened at C$128.87 on Monday. Cameco has a twelve month low of C$95.60 and a twelve month high of C$182.72. The company has a debt-to-equity ratio of 14.11, a quick ratio of 3.74 and a current ratio of 3.08. The firm has a market cap of C$56.13 billion, a PE ratio of 86.49, a P/E/G ratio of 2.22 and a beta of 0.81. The firm’s 50 day moving average price is C$147.82 and its two-hundred day moving average price is C$153.19.

Cameco (TSE:CCO – Get Free Report) (NYSE:CCJ) last issued its earnings results on Tuesday, May 5th. The company reported C$0.47 earnings per share (EPS) for the quarter. Cameco had a net margin of 18.39% and a return on equity of 9.47%. The company had revenue of C$845.37 million during the quarter.

Insider Activity

In other news, insider Alexandre Aubin sold 300 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of C$148.53, for a total transaction of C$44,559.00. Following the completion of the sale, the insider owned 20 shares in the company, valued at approximately C$2,970.60. This represents a 93.75% decrease in their position. Company insiders own 0.15% of the company’s stock.

Cameco Company Profile

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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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