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

Cameco (TSE:CCO) (NYSE:CCJ) had its price target raised by Canaccord Genuity Group from C$83.50 to C$92.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 5.36% from the company’s current price.

CCO has been the topic of several other reports. National Bankshares lifted their target price on Cameco from C$81.00 to C$95.00 in a report on Monday. Desjardins raised Cameco to a “moderate buy” rating in a research report on Thursday, April 3rd. Stifel Canada upgraded Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Raymond James cut their price target on Cameco from C$84.00 to C$83.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Scotiabank lowered their price target on Cameco from C$81.00 to C$80.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Eight equities research analysts have rated the stock with a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$92.92.

Cameco Stock Performance

CCO stock opened at C$87.32 on Monday. Cameco has a 1 year low of C$48.71 and a 1 year high of C$93.22. The stock’s fifty day moving average price is C$67.95 and its 200-day moving average price is C$69.85. The company has a market cap of C$38.43 billion, a P/E ratio of 329.92, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74.

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.