Canaccord Genuity Group Issues Pessimistic Forecast for Cameco (TSE:CCO) Stock Price

Cameco (TSE:CCO) (NYSE:CCJ) had its price target cut by equities research analysts at Canaccord Genuity Group from C$190.00 to C$185.00 in a report issued on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential upside of 19.44% from the company’s current price.

Several other equities analysts have also recently weighed in on CCO. Desjardins increased their price objective on shares of Cameco from C$160.00 to C$185.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Royal Bank Of Canada decreased their price target on shares of Cameco from C$160.00 to C$150.00 in a research report on Thursday, November 13th. Stifel Nicolaus boosted their price objective on shares of Cameco from C$165.00 to C$180.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Sanford C. Bernstein upped their price objective on Cameco from C$139.00 to C$201.00 in a research note on Thursday, February 5th. Finally, Scotiabank lifted their target price on Cameco from C$150.00 to C$155.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$165.69.

Cameco Stock Performance

CCO traded up C$0.95 during midday trading on Tuesday, hitting C$154.89. 469,747 shares of the company traded hands, compared to its average volume of 1,163,236. The company’s 50-day moving average is C$146.80 and its 200 day moving average is C$127.77. The firm has a market capitalization of C$67.44 billion, a PE ratio of 128.01, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35. Cameco has a 52 week low of C$49.75 and a 52 week high of C$182.72.

Cameco (TSE:CCO) (NYSE:CCJ) last issued its quarterly earnings data on Friday, February 13th. The company reported C$0.50 EPS for the quarter. Cameco had a return on equity of 1.89% and a net margin of 4.17%.The company had revenue of C$1.20 billion during the quarter.

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. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.