Yellow Cake (LON:YCA) Sets New 1-Year High – Here’s Why

Shares of Yellow Cake plc (LON:YCA) reached a new 52-week high on Friday . The company traded as high as GBX 622.50 and last traded at GBX 620, with a volume of 1807042 shares changing hands. The stock had previously closed at GBX 608.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Panmure Gordon raised shares of Yellow Cake to a “buy” rating and upped their price target for the company from GBX 550 to GBX 630 in a research report on Tuesday, December 2nd. Citigroup boosted their target price on shares of Yellow Cake from GBX 570 to GBX 670 and gave the company a “buy” rating in a research report on Thursday, October 9th. Canaccord Genuity Group decreased their price target on shares of Yellow Cake from GBX 695 to GBX 680 and set a “buy” rating on the stock in a research report on Thursday, December 4th. Finally, Berenberg Bank cut their price objective on shares of Yellow Cake from GBX 682 to GBX 675 and set a “buy” rating for the company in a research report on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Yellow Cake presently has an average rating of “Buy” and a consensus price target of GBX 655.

Yellow Cake Stock Performance

The company has a market capitalization of £1.49 billion, a PE ratio of -155.00 and a beta of 0.27. The company’s fifty day moving average is GBX 552.52 and its 200-day moving average is GBX 534.28.

Yellow Cake Company Profile

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. The business is differentiated from its peers by its ten-year Framework Agreement for the supply of U3O8 with Kazatomprom, the world’s largest uranium producer.