Raymond James Financial Issues Positive Forecast for Cameco (TSE:CCO) Stock Price

Cameco (TSE:CCO) (NYSE:CCJ) had its price objective lifted by equities researchers at Raymond James Financial from C$165.00 to C$180.00 in a research report issued on Monday,BayStreet.CA reports. Raymond James Financial’s target price would suggest a potential upside of 10.42% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Sanford C. Bernstein lifted their target price on Cameco from C$139.00 to C$201.00 in a report on Thursday. Bank of America upped their price objective on shares of Cameco from C$130.00 to C$175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BMO Capital Markets increased their target price on Cameco from C$130.00 to C$160.00 in a report on Tuesday, November 4th. Royal Bank Of Canada lowered their price target on shares of Cameco from C$160.00 to C$150.00 in a research report on Thursday, November 13th. Finally, UBS Group raised Cameco to a “hold” rating in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$159.15.

Cameco Stock Up 5.0%

Shares of CCO stock traded up C$7.83 during mid-day trading on Monday, hitting C$163.01. The stock had a trading volume of 492,278 shares, compared to its average volume of 1,196,957. Cameco has a 12-month low of C$49.75 and a 12-month high of C$182.72. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74. The firm’s 50-day moving average is C$142.85 and its two-hundred day moving average is C$125.63. The firm has a market capitalization of C$70.98 billion, a P/E ratio of 134.72, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24.

Cameco (TSE:CCO) (NYSE:CCJ) last posted its quarterly earnings results on Wednesday, November 5th. The company reported C$0.07 EPS for the quarter. The business had revenue of C$614.56 million during the quarter. Cameco had a net margin of 4.17% and a return on equity of 1.89%.

Cameco Company Profile

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.