Cameco Co. (TSE:CCO) Given Average Recommendation of “Buy” by Analysts

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) have earned an average rating of “Buy” from the fourteen brokerages that are currently covering the company, MarketBeat reports. Twelve research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is C$137.30.

Several research analysts have recently issued reports on the company. Stifel Nicolaus increased their price target on Cameco from C$150.00 to C$165.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Scotiabank upped their price target on Cameco from C$130.00 to C$150.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. TD Securities upped their price objective on shares of Cameco from C$118.00 to C$142.00 in a research note on Tuesday, October 21st. CLSA upgraded Cameco to a “moderate buy” rating in a report on Tuesday, September 9th. Finally, 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 research note on Wednesday, October 29th.

Cameco Stock Down 5.2%

Shares of Cameco stock opened at C$127.47 on Friday. The stock has a market capitalization of C$55.50 billion, a price-to-earnings ratio of 104.48, a PEG ratio of 2.22 and a beta of 1.28. Cameco has a twelve month low of C$49.75 and a twelve month high of C$153.59. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35. The business’s 50 day simple moving average is C$120.27 and its 200-day simple moving average is C$100.66.

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.