Eight Capital Forecasts Strong Price Appreciation for Cameco (TSE:CCO) Stock

Cameco (TSE:CCO) (NYSE:CCJ) had its target price hoisted by Eight Capital from C$80.00 to C$90.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

Several other equities analysts have also recently commented on CCO. Canaccord Genuity Group upped their price target on Cameco from C$75.00 to C$78.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. TD Securities upped their price objective on shares of Cameco from C$79.00 to C$80.00 in a research note on Monday, July 22nd. Cantor Fitzgerald raised Cameco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 31st. Scotiabank cut their price target on Cameco from C$81.00 to C$80.00 in a report on Monday, August 19th. Finally, National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Seven analysts have rated the stock with a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Cameco currently has an average rating of “Buy” and an average price target of C$81.40.

Cameco Trading Down 0.8 %

Shares of CCO stock opened at C$72.54 on Friday. The company has a current ratio of 3.22, a quick ratio of 3.74 and a debt-to-equity ratio of 25.39. Cameco has a 1 year low of C$48.71 and a 1 year high of C$81.12. The firm’s fifty day simple moving average is C$64.76 and its 200 day simple moving average is C$65.85. The firm has a market capitalization of C$31.57 billion, a P/E ratio of 123.93, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a dividend of $0.16 per share. This is a positive change from Cameco’s previous annual dividend of $0.12. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s dividend payout ratio (DPR) is presently 20.34%.

Insider Buying and Selling at Cameco

In other Cameco news, Senior Officer Cory John-Paul Kos purchased 500 shares of the business’s stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of C$56.23 per share, with a total value of C$28,115.00. In other Cameco news, Senior Officer Cory John-Paul Kos purchased 500 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average price of C$56.23 per share, for a total transaction of C$28,115.00. Also, Senior Officer Ronald Liam Mooney sold 3,400 shares of Cameco stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$70.49, for a total transaction of C$239,666.00. 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.