Yellow Cake (LON:YCA) Price Target Cut to GBX 680 by Analysts at Canaccord Genuity Group

Yellow Cake (LON:YCA) had its price target decreased by equities researchers at Canaccord Genuity Group from GBX 695 to GBX 680 in a research note issued to investors on Thursday,Digital Look reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 26.63% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. Berenberg Bank cut their price target on shares of Yellow Cake from GBX 682 to GBX 675 and set a “buy” rating on the stock in a report on Tuesday, September 30th. Panmure Gordon raised shares of Yellow Cake to a “buy” rating and upped their price objective for the company from GBX 550 to GBX 630 in a report on Tuesday. Finally, Citigroup increased their price objective on shares of Yellow Cake from GBX 570 to GBX 670 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 655.

Yellow Cake Stock Performance

Yellow Cake stock opened at GBX 537 on Thursday. The business’s 50-day simple moving average is GBX 548.35 and its two-hundred day simple moving average is GBX 520.33. The company has a market cap of £1.29 billion, a PE ratio of -2.49 and a beta of 0.27. Yellow Cake has a fifty-two week low of GBX 359 and a fifty-two week high of GBX 603.

About Yellow Cake

Yellow Cake is a London-quoted company, incorporated in Jersey, which offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding U3O8. It may also seek to add value through other uranium-related activities. Yellow Cake and its wholly owned subsidiary (the “Group”) seek to generate returns for shareholders through the appreciation of the value of its holding of U3O8 and its other uranium-related activities in a rising uranium price environment.