Cameco (TSE:CCO) Reaches New 52-Week High – Here’s What Happened

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) hit a new 52-week high on Monday . The stock traded as high as C$90.30 and last traded at C$90.24, with a volume of 636975 shares trading hands. The stock had previously closed at C$82.74.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CCO shares. Sanford C. Bernstein upgraded Cameco to a “strong-buy” rating in a report on Tuesday, April 1st. Desjardins upgraded Cameco to a “moderate buy” rating in a report on Thursday, April 3rd. Stifel Canada upgraded Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. National Bankshares lowered their target price on Cameco from C$87.00 to C$81.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Finally, TD Securities reduced their price objective on 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. Seven research analysts have rated the stock with a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Cameco currently has an average rating of “Buy” and a consensus target price of C$82.65.

Cameco Price Performance

The business has a 50 day simple moving average of C$66.74 and a two-hundred day simple moving average of C$69.67. The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88. The firm has a market capitalization of C$40.47 billion, a P/E ratio of 347.45, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90.

Cameco Company Profile

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.