Cameco (TSE:CCO) Reaches New 12-Month Low – What’s Next?

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s stock price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as C$109.84 and last traded at C$110.12, with a volume of 446,581 shares traded. The stock had previously closed at C$115.22.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCO. Barclays decreased their price objective on shares of Cameco from C$149.00 to C$147.00 in a research report on Thursday, July 16th. Jefferies Financial Group set a C$190.00 target price on shares of Cameco and gave the company a “buy” rating in a report on Thursday, September 3rd. Truist Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Monday, July 13th. TD set a C$190.00 target price on shares of Cameco and gave the stock a “buy” rating in a research report on Thursday, September 24th. Finally, National Bank Financial set a C$185.00 price target on shares of Cameco and gave the company an “outperform” rating in a report on Monday, October 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Cameco has an average rating of “Buy” and an average target price of C$179.89.

Cameco Trading Down 0.4%

The firm has a market capitalization of C$47.97 billion, a PE ratio of 135.96, a P/E/G ratio of 2.22 and a beta of 1.19. The company has a quick ratio of 3.74, a current ratio of 3.06 and a debt-to-equity ratio of 14.14. The business’s fifty day moving average price is C$129.28 and its 200 day moving average price is C$140.14.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its quarterly earnings data on Friday, July 31st. The company reported C$0.18 earnings per share for the quarter. The business had revenue of C$813.77 million for the quarter. Cameco had a net margin of 10.21% and a return on equity of 5.09%.

About Cameco

Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power.