TD Securities Reiterates Their Buy Rating on Cameco Corporation

By Austin Angelo

On October 30, an analyst has provided a rating update for the Materials sector company, Cameco Corporation (TSX: CCO). Analyst Greg Barnes from TD Securities remains bullish on the stock and has a C$13 price target.

According to TipRanks.com, Barnes is a 1-star analyst with an average return of -0.7% and a 49.0% 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$14.25, representing a 34.9% upside.

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

The company has a one-year high of C$17.65 and a one-year low of C$9.90. Currently, Cameco Corporation has an average volume of 1M.

Cameco Corp. is an uranium exploration company. It provides processing services required to produce fuel for nuclear power plants, and generates clean electricity. The company operates its business through three segments: Uranium, Fuel Services and NUKEM.

The company’s shares closed on Wednesday at C$10.56, close to its 52-week low of C$9.90.