Cameco (TSE:CCO) Sets New 52-Week High – Still a Buy?

Cameco Co. (TSE:CCO) (NYSE:CCJ) shares reached a new 52-week high on Wednesday . The company traded as high as C$76.77 and last traded at C$76.37, with a volume of 957754 shares trading hands. The stock had previously closed at C$71.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CCO shares. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. TD Securities increased their target price on Cameco from C$79.00 to C$80.00 in a research report on Monday, July 22nd. Cantor Fitzgerald raised Cameco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 31st. National Bankshares set a C$74.00 price target on Cameco and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Eight investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$77.50.

Cameco Price Performance

The stock has a market capitalization of C$33.37 billion, a PE ratio of 127.64, a PEG ratio of 2.22 and a beta of 0.90. The company has a current ratio of 3.22, a quick ratio of 3.74 and a debt-to-equity ratio of 25.39. The firm’s 50-day moving average price is C$58.27 and its 200-day moving average price is C$64.61.

Cameco (TSE:CCO) (NYSE:CCJ) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.39 by C($0.25). Cameco had a return on equity of 4.23% and a net margin of 9.70%. The company had revenue of C$598.00 million during the quarter.

Insider Buying and Selling at Cameco

In other Cameco news, Director Catherine Gignac acquired 5,500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of C$52.99 per share, with a total value of C$291,417.50. In other Cameco news, Senior Officer Cory John-Paul Kos purchased 500 shares of Cameco stock in a transaction dated Monday, August 19th. The stock was acquired at an average price of C$56.23 per share, for a total transaction of C$28,115.00. Also, Director Catherine Gignac acquired 5,500 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of C$52.99 per share, for a total transaction of C$291,417.50. Company insiders own 0.15% of the company’s stock.

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.