Cameco (TSE:CCO) Stock Passes Above 200-Day Moving Average – What’s Next?

Cameco Co. (TSE:CCO) (NYSE:CCJ) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$147.56 and traded as high as C$151.28. Cameco shares last traded at C$147.99, with a volume of 838,634 shares changing hands.

Analyst Ratings Changes

A number of research firms have weighed in on CCO. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Desjardins upped their price target on Cameco from C$185.00 to C$190.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. National Bank Financial upped their price target on Cameco from C$175.00 to C$180.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Berenberg Bank cut their target price on Cameco from C$201.00 to C$183.00 in a research note on Thursday, February 19th. Finally, Canadian Imperial Bank of Commerce increased their target price on Cameco from C$115.00 to C$202.00 in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$176.19.

Cameco Trading Down 4.1%

The stock has a fifty day moving average of C$156.93 and a 200 day moving average of C$147.56. The company has a market capitalization of C$64.45 billion, a P/E ratio of 99.32, a PEG ratio of 2.22 and a beta of 0.76. The company has a debt-to-equity ratio of 14.11, a quick ratio of 3.74 and a current ratio of 3.08.

Cameco (TSE:CCO) (NYSE:CCJ) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C$0.47 earnings per share for the quarter. The firm 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%.

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.