Cameco (TSE:CCO) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 Ratings Changes

A number of research analysts have weighed in on CCO shares. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Raymond James Financial upped their target price on shares of Cameco from C$175.00 to C$180.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Canadian Imperial Bank of Commerce raised their target price on Cameco from C$115.00 to C$202.00 in a report on Monday, March 9th. Canaccord Genuity Group raised their price target on shares of Cameco from C$185.00 to C$195.00 in a research report on Wednesday, May 6th. Finally, National Bank Financial boosted their price objective on Cameco from C$175.00 to C$180.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$174.50.

Cameco Stock Up 0.4%

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

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

About Cameco

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.