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

Cameco Co. (TSE:CCO) (NYSE:CCJ) passed below its 200-day moving average during trading on Monday . The stock has a 200-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 Upgrades and Downgrades

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

Cameco Trading Down 1.9%

The company has a current ratio of 3.08, a quick ratio of 3.74 and a debt-to-equity ratio of 14.11. The firm has a market capitalization of C$66.08 billion, a P/E ratio of 101.83, a P/E/G ratio of 2.22 and a beta of 0.81. The firm has a 50-day moving average of C$154.92 and a two-hundred day moving average of C$151.87.

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

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.