Cameco (TSE:CCO) Raised to Buy at Paradigm Capital

Cameco (TSE:CCO) (NYSE:CCJ) was upgraded by stock analysts at Paradigm Capital from a “hold” rating to a “buy” rating in a note issued to investors on Monday, BayStreet reports. The firm currently has a C$130.00 target price on the stock, down from their previous target price of C$150.00. Paradigm Capital‘s price objective points to a potential upside of 22.66% from the stock’s current price.

Other analysts also recently issued research reports about the company. TD set a C$190.00 price objective on Cameco and gave the stock a “buy” rating in a research note on Thursday, September 24th. Royal Bank Of Canada set a C$184.00 price objective on Cameco and gave the company an “outperform” rating in a research report on Thursday, September 24th. Truist Financial upgraded Cameco to a “strong-buy” rating in a research note on Monday, July 13th. BMO Capital Markets set a C$150.00 target price on Cameco and gave the stock an “outperform” rating in a research report on Tuesday, November 3rd. Finally, Jefferies Financial Group set a C$190.00 price objective on shares of Cameco and gave the company a “buy” rating in a research report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$176.44.

Cameco Stock Performance

Shares of CCO traded up C$5.33 during mid-day trading on Monday, reaching C$105.98. 863,385 shares of the company’s stock traded hands, compared to its average volume of 1,049,807. Cameco has a 12 month low of C$92.52 and a 12 month high of C$182.72. The stock has a market capitalization of C$46.16 billion, a P/E ratio of 116.46, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The business’s 50-day moving average price is C$122.59 and its 200-day moving average price is C$143.11. The company has a debt-to-equity ratio of 13.95, a quick ratio of 3.74 and a current ratio of 2.55.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its earnings results on Friday, October 30th. The company reported C($0.01) earnings per share for the quarter. The business had revenue of C$619.06 million for the quarter. Cameco had a net margin of 11.43% and a return on equity of 5.61%.

About Cameco

Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power.