Cameco (TSE:CCO) Stock Rating Upgraded by Truist Financial

Cameco (TSE:CCO) (NYSE:CCJ) was upgraded by research analysts at Truist Financial to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on CCO. Barclays set a C$149.00 price target on Cameco and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Desjardins upped their price objective on Cameco from C$185.00 to C$190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on Cameco from C$160.00 to C$175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, National Bank Financial raised their target price on Cameco from C$175.00 to C$180.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$176.29.

Cameco Trading Up 0.9%

Shares of TSE:CCO opened at C$128.87 on Monday. Cameco has a 52 week low of C$95.60 and a 52 week high of C$182.72. The company’s 50 day moving average is C$147.82 and its two-hundred day moving average is C$153.19. The company has a market cap of C$56.13 billion, a PE ratio of 86.49, a P/E/G ratio of 2.22 and a beta of 0.81. The company has a current ratio of 3.08, a quick ratio of 3.74 and a debt-to-equity ratio of 14.11.

Cameco (TSE:CCO) (NYSE:CCJ) last released its quarterly earnings data on Tuesday, May 5th. The company reported C$0.47 earnings per share (EPS) for the quarter. The business had revenue of C$845.37 million during the quarter. Cameco had a net margin of 18.39% and a return on equity of 9.47%.

Insider Activity at Cameco

In related news, insider Alexandre Aubin sold 300 shares of Cameco stock in a transaction on Thursday, June 25th. The shares were sold at an average price of C$148.53, for a total transaction of C$44,559.00. Following the sale, the insider directly owned 20 shares in the company, valued at C$2,970.60. This trade represents a 93.75% decrease in their position. 0.15% of the stock is owned by company insiders.

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.