Cameco Corporation Got Some Good News

By Jason Carr

In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, Cameco Corporation (TSX: CCO). TD Securities’ analyst Greg Barnes upgraded CCO to Buy , with a C$18 price target.

According to TipRanks.com, Barnes is a 3-star analyst with an average return of 2.9% and a 52.2% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as Agnico Eagle, Barrick Gold, and Cameco Corp.

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Currently, the analyst consensus on Cameco Corporation is a Moderate Sell with an average price target of C$14.50.

Cameco Corporation’s market cap is currently C$5.64B and has a P/E ratio of 0. The company has a Price to Book ratio of 1.19.

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 Thursday at C$14.74.