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

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

Several other research firms have also recently issued reports on CCO. Eight Capital increased their price target on shares of Cameco from C$80.00 to C$90.00 in a report on Friday, November 8th. TD Securities increased their price target on shares of Cameco from C$79.00 to C$80.00 in a report on Monday, July 22nd. Canaccord Genuity Group increased their price target on shares of Cameco from C$75.00 to C$78.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. National Bankshares increased their target price on shares of Cameco from C$85.00 to C$87.00 in a report on Friday, November 8th. Finally, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Seven equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Cameco has a consensus rating of “Buy” and a consensus target price of C$82.00.

Cameco Stock Up 2.7 %

Shares of TSE:CCO traded up C$2.13 during trading on Tuesday, hitting C$80.50. 799,194 shares of the company were exchanged, compared to its average volume of 1,255,676. The company has a debt-to-equity ratio of 25.39, a current ratio of 3.22 and a quick ratio of 3.74. Cameco has a 12-month low of C$48.71 and a 12-month high of C$81.12. The stock has a market capitalization of C$35.03 billion, a P/E ratio of 136.49, a PEG ratio of 2.22 and a beta of 0.90. The firm’s 50 day moving average price is C$67.13 and its 200-day moving average price is C$66.22.

Insider Activity

In related news, Senior Officer Ronald Liam Mooney sold 3,400 shares of Cameco stock in a transaction on Friday, October 4th. The shares were sold at an average price of C$70.49, for a total transaction 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.