Cameco (TSE:CCO) Raised to “Strong-Buy” at Truist Financial

Cameco (TSE:CCO) (NYSE:CCJ) was upgraded by Truist Financial to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

CCO has been the subject of several other reports. Scotia raised their target price on shares of Cameco from C$150.00 to C$175.00 and gave the company a “sector outperform” rating in a research note on Wednesday, May 6th. National Bank Financial boosted their price target on shares of Cameco from C$175.00 to C$180.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Barclays set a C$149.00 price objective on shares of Cameco and gave the company an “equal weight” rating in a report on Friday, May 22nd. TD raised their price objective on Cameco from C$185.00 to C$190.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Royal Bank Of Canada raised their price objective on Cameco from C$160.00 to C$175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and a consensus price target of C$176.29.

Cameco Stock Up 0.9%

TSE CCO opened at C$128.87 on Monday. The stock’s 50 day moving average is C$147.82 and its 200 day moving average is C$153.19. The company has a current ratio of 3.08, a quick ratio of 3.74 and a debt-to-equity ratio of 14.11. Cameco has a 12 month low of C$95.60 and a 12 month high of C$182.72. The stock has a market cap of C$56.13 billion, a PE ratio of 86.49, a P/E/G ratio of 2.22 and a beta of 0.81.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its quarterly earnings data on Tuesday, May 5th. The company reported C$0.47 earnings per share (EPS) for the quarter. The business had revenue of C$845.37 million during the quarter. Cameco had a net margin of 18.39% and a return on equity of 9.47%.

Insider Transactions at Cameco

In other news, insider Alexandre Aubin sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of C$148.53, for a total value of C$44,559.00. Following the completion of the sale, the insider directly owned 20 shares of the company’s stock, valued at C$2,970.60. This trade represents a 93.75% decrease in their position. 0.15% of the stock is currently owned by company insiders.

About Cameco

Cameco is one of the world’s largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.