Canaccord Genuity Group Issues Positive Forecast for Cameco (TSE:CCO) Stock Price

Cameco (TSE:CCO) (NYSE:CCJ) had its price objective boosted by research analysts at Canaccord Genuity Group from C$83.50 to C$92.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential downside of 0.59% from the company’s previous close.

CCO has been the subject of a number of other research reports. TD Securities dropped their price target on shares of Cameco from C$90.00 to C$77.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Scotiabank decreased their target price on Cameco from C$81.00 to C$80.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. National Bankshares upped their target price on Cameco from C$81.00 to C$95.00 in a report on Monday. Raymond James cut their price target on Cameco from C$84.00 to C$83.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Stifel Canada raised Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Eight investment analysts have rated the stock with a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$90.10.

Cameco Stock Up 11.9%

CCO stock traded up C$9.81 during trading on Monday, reaching C$92.55. The stock had a trading volume of 1,940,095 shares, compared to its average volume of 1,207,239. The company has a market capitalization of C$40.73 billion, a P/E ratio of 349.68, a PEG ratio of 2.22 and a beta of 0.90. Cameco has a 1-year low of C$48.71 and a 1-year high of C$93.22. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35. The firm has a fifty day moving average price of C$66.74 and a 200 day moving average price of C$69.67.

About Cameco

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.