Berenberg Bank Cuts Cameco (TSE:CCO) Price Target to C$183.00

Cameco (TSE:CCO) (NYSE:CCJ) had its price objective cut by equities researchers at Berenberg Bank from C$201.00 to C$183.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Berenberg Bank’s target price would suggest a potential upside of 13.36% from the stock’s current price.

A number of other equities analysts have also recently issued reports on CCO. Stifel Nicolaus raised their target price on Cameco from C$165.00 to C$180.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Raymond James Financial reduced their price objective on shares of Cameco from C$180.00 to C$175.00 and set an “outperform” rating on the stock in a research note on Tuesday. Scotiabank decreased their price target on shares of Cameco from C$155.00 to C$150.00 and set an “outperform” rating for the company in a report on Tuesday. Canaccord Genuity Group lowered their price objective on shares of Cameco from C$190.00 to C$185.00 in a research report on Tuesday. Finally, UBS Group upgraded Cameco to a “hold” rating in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$172.38.

Cameco Trading Up 1.2%

Shares of CCO traded up C$1.91 on Thursday, reaching C$161.43. 451,819 shares of the company’s stock were exchanged, compared to its average volume of 1,147,220. The business has a 50 day moving average price of C$147.90 and a two-hundred day moving average price of C$128.37. Cameco has a 12 month low of C$49.75 and a 12 month high of C$182.72. The stock has a market capitalization of C$70.31 billion, a P/E ratio of 119.58, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35.

Cameco (TSE:CCO) (NYSE:CCJ) last released its earnings results on Friday, February 13th. The company reported C$0.50 EPS for the quarter. The firm had revenue of C$1.20 billion 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.