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

Cameco (TSE:CCO) (NYSE:CCJ) had its price objective boosted by stock analysts at Scotiabank from C$93.00 to C$95.00 in a report released on Monday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential upside of 0.18% from the company’s previous close.

A number of other analysts have also recently weighed in on CCO. Canaccord Genuity Group upped their price target on Cameco from C$83.50 to C$92.00 and gave the company a “buy” rating in a research report on Monday, June 9th. National Bankshares upped their target price on shares of Cameco from C$81.00 to C$95.00 in a report on Monday, June 9th. Stifel Nicolaus boosted their price target on shares of Cameco from C$90.00 to C$105.00 in a research report on Tuesday, June 10th. TD Securities raised their price objective on shares of Cameco from C$77.00 to C$100.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Finally, Berenberg Bank lifted their target price on shares of Cameco from C$75.00 to C$96.00 in a research note on Tuesday, June 10th. Eight investment analysts have rated the stock with a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$93.08.

Cameco Stock Performance

Shares of TSE:CCO traded up C$4.30 during trading on Monday, hitting C$94.83. 1,165,826 shares of the stock were exchanged, compared to its average volume of 1,219,741. The company has a market capitalization of C$41.74 billion, a price-to-earnings ratio of 358.30, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88. Cameco has a 1-year low of C$48.71 and a 1-year high of C$96.64. The company’s fifty day simple moving average is C$70.19 and its 200-day simple moving average is C$69.94.

Cameco Company Profile

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.