Desjardins Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Cameco (TSE:CCO) (NYSE:CCJ) had its price target increased by investment analysts at Desjardins from C$85.00 to C$105.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ target price suggests a potential upside of 11.33% from the stock’s previous close. Desjardins also issued estimates for Cameco’s FY2025 earnings at $1.25 EPS.

Several other equities analysts also recently commented on CCO. Raymond James increased their target price on shares of Cameco from C$83.00 to C$88.00 and gave the stock an “outperform” rating in a research report on Monday, June 9th. TD Securities upped their price objective on shares of Cameco from C$77.00 to C$100.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Scotiabank boosted their price target on shares of Cameco from C$93.00 to C$95.00 in a report on Monday. National Bankshares boosted their price target on Cameco from C$81.00 to C$95.00 in a research note on Monday, June 9th. Finally, Canaccord Genuity Group upped their price objective on shares of Cameco from C$83.50 to C$92.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Nine investment analysts have rated the stock with a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$94.93.

Cameco Stock Up 0.1%

CCO stock traded up C$0.14 during midday trading on Tuesday, reaching C$94.31. The company had a trading volume of 556,811 shares, compared to its average volume of 1,219,359. The company has a market capitalization of C$41.51 billion, a P/E ratio of 356.33, a PEG ratio of 2.22 and a beta of 0.90. Cameco has a 1 year low of C$48.71 and a 1 year high of C$96.64. 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 50 day moving average of C$71.03 and a two-hundred day moving average of C$70.02.

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.