Cameco (TSE:CCO) Reaches New 52-Week High Following Analyst Upgrade

Cameco Co. (TSE:CCO) (NYSE:CCJ) reached a new 52-week high on Monday after Raymond James Financial raised their price target on the stock from C$96.00 to C$102.00. Raymond James Financial currently has an outperform rating on the stock. Cameco traded as high as C$95.80 and last traded at C$95.12, with a volume of 474584 shares trading hands. The stock had previously closed at C$90.53.

CCO has been the topic of a number of other research reports. Sanford C. Bernstein upgraded shares of Cameco to a “strong-buy” rating in a research note on Tuesday, April 1st. TD Securities lifted their price target on shares of Cameco from C$77.00 to C$100.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. BMO Capital Markets lifted their target price on Cameco from C$85.00 to C$95.00 and gave the stock an “outperform” rating in a research report on Monday, June 9th. Finally, Berenberg Bank boosted their price target on Cameco from C$75.00 to C$96.00 in a research note on Tuesday, June 10th. Nine equities research analysts have rated the stock with a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$94.93.

Cameco Stock Up 0.4%

The firm’s fifty day moving average is C$71.79 and its two-hundred day moving average is C$70.19. The firm has a market cap of C$41.60 billion, a price-to-earnings ratio of 357.09, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74.

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.