Cameco (TSE:CCO) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$148.50 and traded as low as C$138.91. Cameco shares last traded at C$141.60, with a volume of 748,916 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CCO shares. Desjardins lifted their price target on shares of Cameco from C$185.00 to C$190.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada increased their price objective on shares of Cameco from C$160.00 to C$175.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Canaccord Genuity Group lifted their target price on shares of Cameco from C$185.00 to C$195.00 in a research report on Wednesday, May 6th. Scotia boosted their target price on shares of Cameco from C$150.00 to C$175.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, May 6th. Finally, Truist Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cameco presently has a consensus rating of “Buy” and an average target price of C$175.61.

Cameco Price Performance

The company has a debt-to-equity ratio of 14.14, a current ratio of 3.06 and a quick ratio of 3.74. The stock has a market capitalization of C$65.06 billion, a price-to-earnings ratio of 184.42, a price-to-earnings-growth ratio of 2.22 and a beta of 0.78. The stock has a 50 day moving average price of C$135.15 and a 200-day moving average price of C$148.44.

Insider Activity

In other news, insider Alexandre Aubin sold 300 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of C$148.53, for a total transaction of C$44,559.00. Following the completion of the sale, the insider owned 20 shares of the company’s stock, valued at C$2,970.60. This represents a 93.75% decrease in their ownership of the stock. 0.15% of the stock is owned by insiders.

About Cameco

Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power.