Berenberg Bank Issues Pessimistic Forecast for Cameco (TSE:CCO) Stock Price

Cameco (TSE:CCO) (NYSE:CCJ) had its target price cut by Berenberg Bank from C$201.00 to C$183.00 in a note issued to investors on Thursday,BayStreet.CA reports. Berenberg Bank’s price target suggests a potential upside of 13.36% from the company’s previous close.

CCO has been the topic of several other research reports. UBS Group upgraded Cameco to a “hold” rating in a research note on Monday, November 10th. National Bank Financial boosted their target price on Cameco from C$145.00 to C$175.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Sanford C. Bernstein raised their price target on Cameco from C$139.00 to C$201.00 in a report on Thursday, February 5th. Bank of America upped their price objective on shares of Cameco from C$130.00 to C$175.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, BMO Capital Markets lifted their target price on shares of Cameco from C$130.00 to C$160.00 in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$172.38.

Cameco Stock Up 1.2%

Shares of Cameco stock traded up C$1.91 on Thursday, reaching C$161.43. 451,819 shares of the company were exchanged, compared to its average volume of 1,147,220. The company has a market capitalization of C$70.31 billion, a price-to-earnings ratio of 119.58, a PEG 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 has a one year low of C$49.75 and a one year high of C$182.72. The company has a 50-day moving average of C$147.90 and a 200 day moving average of C$128.37.

Cameco (TSE:CCO) (NYSE:CCJ) last released its quarterly earnings data on Friday, February 13th. The company reported C$0.50 earnings per share for the quarter. The company had revenue of C$1.20 billion for the quarter. Cameco had a net margin of 4.17% and a return on equity of 1.89%.

About Cameco

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.