Cameco (TSE:CCO) Sets New 1-Year High – What’s Next?

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s stock price reached a new 52-week high on Friday . The company traded as high as C$161.24 and last traded at C$160.34, with a volume of 77196 shares trading hands. The stock had previously closed at C$156.85.

Wall Street Analyst Weigh In

CCO has been the subject of a number of research reports. Raymond James Financial boosted their target price on shares of Cameco from C$130.00 to C$150.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada reduced their price objective on Cameco from C$160.00 to C$150.00 in a research report on Thursday, November 13th. Bank of America raised their target price on Cameco from C$130.00 to C$175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BMO Capital Markets boosted their price target on Cameco from C$130.00 to C$160.00 in a research note on Tuesday, November 4th. Finally, President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating and set a C$126.92 price objective on the stock in a research note on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Cameco has a consensus rating of “Buy” and an average price target of C$141.30.

Cameco Stock Up 3.6%

The company has a market capitalization of C$70.78 billion, a PE ratio of 134.35, a P/E/G ratio of 2.22 and a beta of 1.19. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74. The company has a 50-day moving average of C$128.82 and a two-hundred day moving average of C$118.20.

Cameco (TSE:CCO) (NYSE:CCJ) last posted its quarterly earnings data on Wednesday, November 5th. The company reported C$0.07 EPS for the quarter. Cameco had a return on equity of 1.89% and a net margin of 4.17%.The firm had revenue of C$614.56 million for 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.