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

Cameco (TSE:CCO) (NYSE:CCJ) had its price target upped by analysts at Scotiabank from C$80.00 to C$86.00 in a research report issued on Tuesday,BayStreet.CA reports. Scotiabank’s target price points to a potential upside of 6.83% from the stock’s previous close.

Several other equities analysts also recently issued reports on CCO. Eight Capital upped their price objective on shares of Cameco from C$80.00 to C$90.00 in a report on Friday, November 8th. TD Securities upped their price objective on shares of Cameco from C$79.00 to C$80.00 in a report on Monday, July 22nd. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Canaccord Genuity Group upped their price objective on shares of Cameco from C$75.00 to C$78.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 31st. Seven analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Cameco has an average rating of “Buy” and an average target price of C$82.00.

Cameco Stock Up 2.7 %

Cameco stock traded up C$2.13 during trading hours on Tuesday, reaching C$80.50. The stock had a trading volume of 799,194 shares, compared to its average volume of 1,255,676. The company has a market cap of C$35.03 billion, a price-to-earnings ratio of 136.49, a PEG ratio of 2.22 and a beta of 0.90. The company has a debt-to-equity ratio of 25.39, a current ratio of 3.22 and a quick ratio of 3.74. The business’s 50 day moving average price is C$67.13 and its 200-day moving average price is C$66.22. Cameco has a 52 week low of C$48.71 and a 52 week high of C$81.12.

Insiders Place Their Bets

In other Cameco news, Senior Officer Ronald Liam Mooney sold 3,400 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$70.49, for a total value of C$239,666.00. Insiders own 0.15% of the company’s stock.

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.