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

Cameco (TSE:CCO) (NYSE:CCJ) had its price target hoisted by research analysts at Scotiabank from C$80.00 to C$86.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 6.74% from the company’s current price.

CCO has been the subject of a number of other reports. BMO Capital Markets increased their target price on shares of Cameco from C$78.00 to C$84.00 in a research report on Friday, November 8th. Canaccord Genuity Group lifted their target price on shares of Cameco from C$75.00 to C$78.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. National Bankshares raised their price target on shares of Cameco from C$85.00 to C$87.00 in a report on Friday, November 8th. Cantor Fitzgerald raised Cameco from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Seven research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$82.00.

Cameco Price Performance

TSE:CCO opened at C$80.57 on Tuesday. Cameco has a 1-year low of C$48.71 and a 1-year high of C$83.00. 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 company has a 50 day moving average price of C$67.70 and a 200-day moving average price of C$66.31. The firm has a market cap of C$35.06 billion, a price-to-earnings ratio of 136.61, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90.

Insider Buying and Selling

In related news, Senior Officer Lisa Lorene Aitken sold 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of C$75.19, for a total value of C$150,380.00. Also, Senior Officer Brian Arthur Reilly sold 14,062 shares of Cameco stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of C$79.98, for a total transaction of C$1,124,678.76. Insiders have sold 19,462 shares of company stock valued at $1,514,725 over the last quarter. Company insiders own 0.15% of the company’s stock.

Cameco Company Profile

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.