Cameco (TSE:CCO) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$141.91 and traded as high as C$168.28. Cameco shares last traded at C$164.96, with a volume of 1,003,980 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CCO shares. National Bank Financial raised their target price on shares of Cameco from C$170.00 to C$175.00 and gave the company an “outperform” rating in a research note on Friday. Canadian Imperial Bank of Commerce raised their target price on shares of Cameco from C$115.00 to C$202.00 in a research note on Monday, March 9th. Berenberg Bank cut their target price on shares of Cameco from C$201.00 to C$183.00 in a research note on Thursday, February 19th. TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Royal Bank Of Canada raised their target price on shares of Cameco from C$150.00 to C$160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$174.85.

Cameco Price Performance

The stock has a market cap of C$71.97 billion, a PE ratio of 122.40, a P/E/G ratio of 2.22 and a beta of 0.76. 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 company’s 50 day moving average is C$156.65 and its 200-day moving average is C$142.24.

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