Cameco (TSE:CCO) Sets New 12-Month High Following Analyst Upgrade

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s share price reached a new 52-week high on Wednesday after Scotiabank raised their price target on the stock from C$80.00 to C$86.00. The stock traded as high as C$83.00 and last traded at C$80.60, with a volume of 210734 shares changing hands. The stock had previously closed at C$80.22.

Several other equities research analysts have also weighed in on CCO. BMO Capital Markets lifted their price target on Cameco from C$78.00 to C$84.00 in a research report on Friday, November 8th. Canaccord Genuity Group upped their target price on shares of Cameco from C$75.00 to C$78.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Cantor Fitzgerald raised shares of Cameco from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 31st. Eight Capital upped their price objective on shares of Cameco from C$80.00 to C$90.00 in a report on Friday, November 8th. Finally, National Bankshares boosted their price target on Cameco from C$85.00 to C$87.00 in a research report on Friday, November 8th. Seven research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$82.00.

Insider Buying and Selling

In related news, Senior Officer Ronald Liam Mooney sold 3,400 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of C$70.49, for a total transaction of C$239,666.00. Also, Senior Officer Brian Arthur Reilly sold 14,062 shares of the business’s stock in a transaction on 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. 0.15% of the stock is currently owned by insiders.

Cameco Stock Up 0.5 %

The company has a market cap of C$35.08 billion, a PE ratio of 135.97, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. The company has a fifty day moving average of C$67.70 and a two-hundred day moving average of C$66.31. The company has a debt-to-equity ratio of 25.39, a quick ratio of 3.74 and a current ratio of 3.22.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a $0.16 dividend. The ex-dividend date is Wednesday, November 27th. This represents a dividend yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio is currently 20.34%.

Cameco Company Profile

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.