Cameco (TSE:CCO) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Cameco Co. (TSE:CCO) (NYSE:CCJ) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$145.40 and traded as high as C$166.57. Cameco shares last traded at C$161.22, with a volume of 817,616 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CCO. Scotiabank decreased their price target on Cameco from C$155.00 to C$150.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Berenberg Bank decreased their target price on shares of Cameco from C$201.00 to C$183.00 in a research report on Thursday, February 19th. Royal Bank Of Canada raised their price target on shares of Cameco from C$150.00 to C$160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Finally, Desjardins boosted their price target on shares of Cameco from C$160.00 to C$185.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$174.85.

Cameco Stock Performance

The company has a 50-day moving average price of C$157.85 and a two-hundred day moving average price of C$145.40. The company has a current ratio of 2.47, a quick ratio of 3.74 and a debt-to-equity ratio of 14.82. The stock has a market capitalization of C$70.22 billion, a P/E ratio of 119.42, a price-to-earnings-growth ratio of 2.22 and a beta of 0.76.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its earnings results on Friday, February 13th. The company reported C$0.50 EPS for the quarter. Cameco had a return on equity of 8.76% and a net margin of 16.93%.The company had revenue of C$1.20 billion 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.