The stock of Cameco Corporation (TSE:CCO) gapped up by $0.08 today and has $19.37 target or 65.00% above today’s $11.74 share price. The 5 months technical chart setup indicates low risk for the $4.70 billion company. The gap was reported on Nov, 10 by Barchart.com. If the $19.37 price target is reached, the company will be worth $3.06B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 461,426 shares traded hands. Cameco Corporation (TSE:CCO) has declined 28.96% since April 6, 2016 and is downtrending. It has underperformed by 34.61% the S&P500.
Cameco Corporation (TSE:CCO) Ratings Coverage
Out of 7 analysts covering Cameco Corporation (TSE:CCO), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $27 is the highest target while $12 is the lowest. The $18.88 average target is 60.82% above today’s ($11.74) stock price. Cameco Corporation has been the topic of 22 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Scotia Capital maintained Cameco Corporation (TSE:CCO) rating on Thursday, November 3. Scotia Capital has “Sector Perform” rating and $12.50 price target. Scotia Capital maintained it with “Sector Perform” rating and $15.50 target price in Friday, July 29 report. The rating was maintained by RBC Capital Markets on Monday, May 30 with “Sector Perform”. The stock of Cameco Corporation (TSE:CCO) has “Sector Perform” rating given on Tuesday, September 20 by Scotia Capital. The stock has “Outperform” rating given by RBC Capital Markets on Friday, January 29. As per Tuesday, November 24, the company rating was maintained by RBC Capital Markets. The firm has “Outperform” rating given on Wednesday, September 2 by Scotia Capital.
More notable recent Cameco Corporation (TSE:CCO) news were published by: Fool.ca which released: “Is it Time to Buy Cameco Corporation?” on November 09, 2016, also Fool.com with their article: “Cameco Corporation Posted a Surprisingly Good Third-Quarter Earnings Report” published on November 07, 2016, Fool.com published: “Uranium Miner Cameco Corporation Has a Great Business — and an Even Greater …” on October 11, 2016. More interesting news about Cameco Corporation (TSE:CCO) were released by: Fool.ca and their article: “Cameco Corporation: Should You Buy the Bounce?” published on November 03, 2016 as well as Fool.ca‘s news article titled: “Can Cameco Corporation Survive Weak Uranium Prices?” with publication date: October 13, 2016.
Cameco Corporation is a uranium producer. The company has a market cap of $4.70 billion. The Firm is engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. It has a 63.77 P/E ratio. The Firm operates through three divisions: uranium, fuel services and NUKEM.
CCO.TO Company Profile
Cameco Corporation (Cameco), incorporated on January 1, 1997, is a uranium producer. The Firm is engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Firm operates through three divisions: uranium, fuel services and NUKEM. Cameco conducts a portion of its exploration, development, mining and milling activities through joint activities located around the world. Cameco’s Canadian uranium joint operation interests are McArthur River, Key Lake and Cigar Lake. The Company’s subsidiaries include Cameco Fuel Manufacturing Inc. (CFM), Cameco Inc., Power Resources, Inc., Crow Butte Resources, Inc., NUKEM Investments GmbH, Cameco Australia Pty. Ltd. and Cameco Europe Ltd.
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