Cameco (TSE:CCO) Stock Passes Below 200 Day Moving Average – Here’s Why

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$151.52 and traded as low as C$148.50. Cameco shares last traded at C$151.74, with a volume of 682,911 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CCO shares. Canadian Imperial Bank of Commerce upped their price objective on Cameco from C$115.00 to C$202.00 in a report on Monday, March 9th. Canaccord Genuity Group lifted their target price on Cameco from C$185.00 to C$195.00 in a report on Wednesday, May 6th. National Bank Financial boosted their target price on shares of Cameco from C$175.00 to C$180.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Raymond James Financial upped their price target on shares of Cameco from C$175.00 to C$180.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Finally, Barclays set a C$149.00 price target on shares of Cameco and gave the stock an “equal weight” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$174.50.

Cameco Stock Performance

The firm has a market capitalization of C$66.09 billion, a P/E ratio of 101.84, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The company has a current ratio of 3.08, a quick ratio of 3.74 and a debt-to-equity ratio of 14.11. The company has a 50-day moving average of C$155.22 and a 200-day moving average of C$151.52.

Cameco (TSE:CCO) (NYSE:CCJ) last released its quarterly earnings results on Tuesday, May 5th. The company reported C$0.47 EPS for the quarter. Cameco had a return on equity of 9.47% and a net margin of 18.39%.The firm had revenue of C$845.37 million for the quarter.

Cameco Company Profile

Cameco is one of the world’s largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.