Cameco Corporation Receives a Buy from TD Securities

By Austin Angelo

On November 9, an analyst has provided a rating update for the Materials sector company, Cameco Corporation (TSX: CCO). Analyst Greg Barnes from TD Securities reiterated a Buy rating, with a C$15 price target on November 9.

According to TipRanks.com, Barnes is a 3-star analyst with an average return of 3.3% and a 56.5% success rate. Barnes covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Teck Resources Limited.

Currently, the analyst consensus on Cameco Corporation is Moderate Buy and the average price target is C$14, representing a 17.8% upside.

In a report issued on October 27, BMO Capital also reiterated a Buy rating on the stock with a C$17 price target.

Cameco Corporation’s market cap is currently C$4.7B and has a P/E ratio of 0.

Cameco Corp. engages in the provision of uranium. The company operates its business 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 Friday at C$11.88.