Cameco Co. (TSE:CCO) Receives Average Recommendation of “Buy” from Analysts

Cameco Co. (TSE:CCO) (NYSE:CCJ) has been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$114.99.

CCO has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on shares of Cameco from C$105.00 to C$115.00 in a research report on Tuesday, July 22nd. Scotiabank upped their target price on shares of Cameco from C$110.00 to C$130.00 and gave the stock an “outperform” rating in a research report on Tuesday. TD Securities upped their target price on shares of Cameco from C$115.00 to C$117.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. BMO Capital Markets upped their target price on shares of Cameco from C$110.00 to C$120.00 in a research report on Friday, August 29th. Finally, Raymond James Financial upped their target price on shares of Cameco from C$115.00 to C$120.00 in a research report on Thursday, August 21st.

Cameco Price Performance

Shares of TSE:CCO opened at C$130.95 on Wednesday. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35. Cameco has a fifty-two week low of C$49.75 and a fifty-two week high of C$134.70. The firm has a 50-day simple moving average of C$111.23 and a 200 day simple moving average of C$91.84. The company has a market cap of C$57.01 billion, a PE ratio of 107.34, a P/E/G ratio of 2.22 and a beta of 1.12.

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.