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Raymond James Sticks to Its Buy Rating for Cameco Corporation (CCO)


Cameco Corporation (TSX: CCO), the Materials sector company, has received a rating update from a Wall Street analyst today. Raymond James’ analyst Brian MacArthur reiterates their Buy rating on the shares, with a C$18 price target.

MacArthur has an average return of 12.4% when recommending Cameco Corporation.

According to TipRanks.com, MacArthur is ranked #4608 out of 4878 analysts.

The word on The Street in general, suggests a Hold analyst consensus rating for Cameco Corporation with a C$15.80 average price target, which is a 7.3% upside from current levels. In a report released today, TD Securities also maintained a Buy rating on the stock with a C$20 price target.

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Based on Cameco Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$76.48 million. In comparison, last year the company had a GAAP net loss of C$1.56 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 Friday at C$14.73.