Cameco (TSE:CCO) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$137.38 and traded as high as C$149.06. Cameco shares last traded at C$148.62, with a volume of 523,983 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCO. Scotiabank cut their price objective on Cameco from C$155.00 to C$150.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Sanford C. Bernstein increased their target price on Cameco from C$139.00 to C$201.00 in a research report on Thursday, February 5th. Royal Bank Of Canada lifted 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. Berenberg Bank reduced their price target on Cameco from C$201.00 to C$183.00 in a research note on Thursday, February 19th. Finally, TD Securities increased their price objective on Cameco from C$150.00 to C$185.00 in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Cameco has an average rating of “Buy” and an average target price of C$174.85.

Cameco Stock Up 2.5%

The stock’s 50 day simple moving average is C$159.95 and its two-hundred day simple moving average is C$137.38. The firm has a market cap of C$64.73 billion, a P/E ratio of 110.09, a P/E/G ratio of 2.22 and a beta of 0.67. The company has a debt-to-equity ratio of 14.82, a current ratio of 2.47 and a quick ratio of 3.74.

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

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.