Cameco (TSE:CCO) Shares Cross Above 200 Day Moving Average – What’s Next?

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$140.27 and traded as high as C$165.86. Cameco shares last traded at C$160.52, with a volume of 1,212,229 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Cameco from C$190.00 to C$185.00 in a report on Tuesday, February 17th. Scotiabank decreased their price target on shares of Cameco from C$155.00 to C$150.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Desjardins increased their price target on shares of Cameco from C$160.00 to C$185.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Royal Bank Of Canada increased their price target on shares of Cameco from C$150.00 to C$160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$174.85.

Cameco Trading Up 4.9%

The firm has a market capitalization of C$69.91 billion, a PE ratio of 118.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.76. The company has a quick ratio of 3.74, a current ratio of 2.47 and a debt-to-equity ratio of 14.82. The company’s 50-day simple moving average is C$156.89 and its 200 day simple moving average is C$140.27.

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

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.