BMO Capital Believes Cameco Corporation (TSX: CCO) Still Has Room to Grow

By Jason Carr

The Materials sector company, Cameco Corporation (CCOResearch Report), has received a rating update from a Wall Street analyst yesterday. Analyst Alexander Pearce from BMO Capital reiterated a Buy rating, with a C$17.50 price target.

Pearce has an average return of 19.9% when recommending Cameco Corporation.

According to TipRanks.com, Pearce is ranked #874 out of 5146 analysts.

Currently, the analyst consensus on Cameco Corporation is a Moderate Buy with an average price target of C$17.67.

Based on Cameco Corporation’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$160 million. In comparison, last year the company had a GAAP net loss of C$61.63 million.

Cameco Corp. engages in the provision of uranium. The company operates through three segments: Uranium, Fuel Services and NUKEM. The Uranium segment involves the exploration for, mining, milling, purchase and sale of uranium concentrate.

The company’s shares closed on Monday at C$16.38, close to its 52-week high of C$17.12.