Berenberg Bank Issues Positive Forecast for Cameco (TSE:CCO) Stock Price

Cameco (TSE:CCO) (NYSE:CCJ) had its price target hoisted by Berenberg Bank from C$75.00 to C$96.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Berenberg Bank’s price target points to a potential upside of 10.76% from the company’s previous close.

A number of other research firms have also issued reports on CCO. Stifel Canada raised Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Sanford C. Bernstein upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, April 1st. TD Securities lifted their price objective on Cameco from C$77.00 to C$100.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets lifted their price objective on Cameco from C$85.00 to C$95.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Desjardins upgraded Cameco to a “moderate buy” rating in a research note on Thursday, April 3rd. Eight research analysts have rated the stock with a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, Cameco presently has an average rating of “Buy” and a consensus target price of C$92.92.

Cameco Trading Down 5.4%

CCO traded down C$4.93 during mid-day trading on Tuesday, hitting C$86.67. 1,274,240 shares of the stock were exchanged, compared to its average volume of 1,215,605. The firm’s fifty day moving average is C$67.36 and its two-hundred day moving average is C$69.72. Cameco has a 1-year low of C$48.71 and a 1-year high of C$93.22. 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 company has a market cap of C$38.15 billion, a PE ratio of 327.47, a PEG ratio of 2.22 and a beta of 0.90.

About Cameco

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.