Cameco (TSE:CCO) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$135.62 and traded as high as C$152.94. Cameco shares last traded at C$150.89, with a volume of 973,253 shares trading hands.

Wall Street Analyst Weigh In

CCO has been the subject of a number of analyst reports. Sanford C. Bernstein boosted their price objective on shares of Cameco from C$139.00 to C$201.00 in a research note on Thursday, February 5th. Canadian Imperial Bank of Commerce lifted their target price on shares of Cameco from C$115.00 to C$202.00 in a report 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 report on Thursday, February 19th. National Bank Financial upped their price target on shares of Cameco from C$145.00 to C$175.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Finally, Royal Bank Of Canada raised their price target on Cameco from C$150.00 to C$160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$174.85.

Cameco Stock Up 1.8%

The firm has a 50-day moving average price of C$159.98 and a two-hundred day moving average price of C$135.62. The company has a market capitalization of C$65.72 billion, a P/E ratio of 111.77, a PEG ratio of 2.22 and a beta of 0.67. The company has a quick ratio of 3.74, a current ratio of 2.47 and a debt-to-equity ratio of 14.82.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its earnings results on Friday, February 13th. The company reported C$0.50 earnings per share (EPS) for the quarter. The business had revenue of C$1.20 billion for 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.