Brokerages Set Cameco Co. (TSE:CCO) Target Price at C$84.30

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) have received an average rating of “Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$84.30.

A number of brokerages recently commented on CCO. Raymond James raised their target price on Cameco from C$81.00 to C$88.00 in a report on Friday, November 22nd. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a report on Friday, October 4th. Eight Capital raised their target price on Cameco from C$80.00 to C$90.00 in a report on Friday, November 8th. Canaccord Genuity Group lifted their price objective on Cameco from C$75.00 to C$78.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada lifted their price objective on Cameco from C$75.00 to C$90.00 in a research note on Thursday, November 21st.

Cameco Stock Performance

Shares of Cameco stock opened at C$71.07 on Monday. The business has a 50-day moving average of C$77.58 and a 200 day moving average of C$68.40. Cameco has a 12 month low of C$48.71 and a 12 month high of C$88.18. The stock has a market capitalization of C$30.93 billion, a price-to-earnings ratio of 120.46, a price-to-earnings-growth 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.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a dividend of $0.16 per share. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date was Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s payout ratio is presently 20.34%.

Insider Buying and Selling

In other Cameco news, Senior Officer Tim Scott Gitzel sold 50,000 shares of Cameco stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of C$85.66, for a total transaction of C$4,283,000.00. Also, Senior Officer Lisa Lorene Aitken sold 2,000 shares of Cameco stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of C$75.19, for a total value of C$150,380.00. Insiders sold a total of 80,962 shares of company stock worth $6,800,456 over the last 90 days. 0.15% of the stock is owned by insiders.

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.