Royal Bank of Canada Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Cameco (TSE:CCO) (NYSE:CCJ) had its price target boosted by equities researchers at Royal Bank of Canada from C$75.00 to C$90.00 in a report released on Thursday,BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 7.76% from the stock’s current price.

Several other equities analysts also recently commented on the company. Eight Capital upped their price objective on Cameco from C$80.00 to C$90.00 in a research report on Friday, November 8th. BMO Capital Markets raised their target price on Cameco from C$78.00 to C$84.00 in a report on Friday, November 8th. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. National Bankshares upped their price target on Cameco from C$85.00 to C$87.00 in a research note on Friday, November 8th. Finally, Scotiabank increased their price objective on Cameco from C$80.00 to C$86.00 in a report on Tuesday. Seven research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$83.50.

Cameco Price Performance

TSE CCO traded up C$2.95 during trading hours on Thursday, reaching C$83.52. The company’s stock had a trading volume of 596,743 shares, compared to its average volume of 1,256,715. The company has a market capitalization of C$36.35 billion, a price-to-earnings ratio of 141.24, a PEG ratio of 2.22 and a beta of 0.90. Cameco has a 1 year low of C$48.71 and a 1 year high of C$83.63. The firm’s 50-day moving average price is C$68.26 and its 200-day moving average price is C$66.41. The company has a quick ratio of 3.74, a current ratio of 3.22 and a debt-to-equity ratio of 25.39.

Insider Buying and Selling

In other news, Senior Officer Lisa Lorene Aitken sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of C$75.19, for a total transaction of C$150,380.00. Also, Senior Officer Brian Arthur Reilly sold 14,062 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of C$79.98, for a total transaction of C$1,124,678.76. Over the last 90 days, insiders sold 19,462 shares of company stock worth $1,514,725. Company insiders own 0.15% of the company’s stock.

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.