Canaccord Genuity Group Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Cameco (TSE:CCO) (NYSE:CCJ) had its target price hoisted by Canaccord Genuity Group from C$83.50 to C$92.00 in a research report report published on Monday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other brokerages also recently issued reports on CCO. Raymond James lowered their price objective on shares of Cameco from C$84.00 to C$83.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Stifel Canada upgraded Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. National Bankshares upped their price target on Cameco from C$81.00 to C$95.00 in a research report on Monday. Desjardins upgraded Cameco to a “moderate buy” rating in a research report on Thursday, April 3rd. Finally, Scotiabank decreased their price objective on shares of Cameco from C$81.00 to C$80.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Eight investment analysts have rated the stock with a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$92.92.

Cameco Trading Up 3.8%

TSE:CCO opened at C$90.65 on Monday. Cameco has a 1-year low of C$48.71 and a 1-year high of C$93.22. The firm has a market capitalization of C$39.90 billion, a price-to-earnings ratio of 342.50, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35. The stock has a fifty day simple moving average of C$68.69 and a 200 day simple moving average of C$69.99.

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.