President Capital Upgrades Cameco (TSE:CCO) to Buy

Cameco (TSE:CCO) (NYSE:CCJ) was upgraded by investment analysts at President Capital from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has a C$126.92 target price on the stock. President Capital’s price objective would suggest a potential upside of 5.55% from the company’s previous close.

Other analysts have also issued research reports about the company. Scotiabank increased their price target on Cameco from C$100.00 to C$110.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Bank of America increased their price target on Cameco from C$110.00 to C$130.00 in a report on Friday, August 29th. National Bankshares increased their price target on Cameco from C$110.00 to C$115.00 and gave the company an “outperform” rating in a report on Friday, August 22nd. CLSA upgraded Cameco to a “moderate buy” rating in a report on Tuesday, September 9th. Finally, Stifel Nicolaus increased their price target on Cameco from C$105.00 to C$115.00 in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$113.46.

Cameco Stock Performance

TSE:CCO opened at C$120.25 on Monday. The stock’s fifty day moving average is C$107.12 and its 200 day moving average is C$85.82. Cameco has a fifty-two week low of C$49.75 and a fifty-two week high of C$122.27. The firm has a market capitalization of C$52.36 billion, a PE ratio of 98.57, a PEG ratio of 2.22 and a beta of 1.13. The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88.

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.