Cameco (TSE:CCO) Hits New 12-Month High – Should You Buy?

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as C$120.00 and last traded at C$117.43, with a volume of 309631 shares traded. The stock had previously closed at C$119.35.

Analyst Ratings Changes

Several equities research analysts have recently commented on CCO shares. Royal Bank Of Canada raised their target price on shares of Cameco from C$100.00 to C$110.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Desjardins raised their target price on shares of Cameco from C$105.00 to C$110.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Berenberg Bank raised their target price on shares of Cameco from C$75.00 to C$96.00 in a research report on Tuesday, June 10th. Canaccord Genuity Group raised their target price on shares of Cameco from C$92.00 to C$115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Finally, TD Securities raised 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. Three equities research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$109.69.

Cameco Price Performance

The firm’s 50-day moving average is C$106.47 and its 200-day moving average is C$85.17. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74. The company has a market capitalization of C$51.25 billion, a P/E ratio of 96.48, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13.

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.