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

Cameco (TSE:CCO) (NYSE:CCJ) had its target price boosted by Royal Bank of Canada from C$75.00 to C$90.00 in a research report released on Thursday,BayStreet.CA reports.

Other equities research analysts have also recently issued reports about the stock. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank upped their target price on shares of Cameco from C$80.00 to C$86.00 in a report on Tuesday, November 19th. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. National Bankshares upped their target price on shares of Cameco from C$85.00 to C$87.00 in a report on Friday, November 8th. Finally, Eight Capital upped their target price on shares of Cameco from C$80.00 to C$90.00 in a report on Friday, November 8th. Seven investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$84.30.

Cameco Price Performance

CCO opened at C$84.01 on Thursday. The company has a fifty day moving average price of C$69.61 and a two-hundred day moving average price of C$66.64. 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 has a 52 week low of C$48.71 and a 52 week high of C$85.18. The firm has a market capitalization of C$36.56 billion, a PE ratio of 142.39, a P/E/G ratio of 2.22 and a beta of 0.90.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.16 per share. This represents a yield of 0.22%. This is a positive change from Cameco’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Wednesday, November 27th. Cameco’s dividend payout ratio is presently 20.34%.

Insider Activity

In related news, Senior Officer Brian Arthur Reilly sold 14,062 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of C$79.98, for a total value of C$1,124,678.76. Also, Senior Officer Ronald Liam Mooney sold 3,400 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of C$70.49, for a total transaction of C$239,666.00. Over the last ninety days, insiders sold 32,862 shares of company stock valued at $2,635,367. 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.