Cameco (TSE:CCO) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$80.60 and traded as high as C$114.25. Cameco shares last traded at C$106.24, with a volume of 2,236,983 shares.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CCO shares. Raymond James Financial upped their price objective on Cameco from C$115.00 to C$120.00 in a research note on Thursday, August 21st. National Bankshares boosted their target price on shares of Cameco from C$110.00 to C$115.00 and gave the stock an “outperform” rating in a report on Friday, August 22nd. Scotiabank raised their target price on shares of Cameco from C$100.00 to C$110.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. BMO Capital Markets increased their price objective on shares of Cameco from C$110.00 to C$120.00 in a report on Friday. Finally, Canaccord Genuity Group lifted their target price on Cameco from C$92.00 to C$115.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Four research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$109.69.

Cameco Stock Down 1.8%

The company has a market capitalization of C$46.26 billion, a P/E ratio of 87.08, a PEG ratio of 2.22 and a beta of 1.07. The company has a 50 day simple moving average of C$103.54 and a two-hundred day simple moving average of C$80.60. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.