Cameco (TSE:CCO) Shares Pass Above 200-Day Moving Average – Time to Sell?

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$104.99 and traded as high as C$126.26. Cameco shares last traded at C$115.64, with a volume of 1,239,766 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CCO shares. National Bankshares upped their price target on shares of Cameco from C$140.00 to C$145.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Raymond James Financial boosted their target price on shares of Cameco from C$130.00 to C$150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. BMO Capital Markets upped their target price on shares of Cameco from C$130.00 to C$160.00 in a research report on Tuesday, November 4th. Desjardins raised their price target on shares of Cameco from C$105.00 to C$110.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, CLSA upgraded shares of Cameco to a “moderate buy” rating in a research report on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$141.08.

Cameco Trading Down 4.6%

The business’s 50 day simple moving average is C$123.52 and its 200-day simple moving average is C$104.99. The stock has a market capitalization of C$50.35 billion, a P/E ratio of 95.57, a PEG ratio of 2.22 and a beta of 1.28. The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74.

Cameco (TSE:CCO) (NYSE:CCJ) last posted its quarterly earnings results on Wednesday, November 5th. The company reported C$0.00 earnings per share for the quarter. Cameco had a return on equity of 1.89% and a net margin of 4.17%.The company had revenue of C$614.56 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.