Cameco (TSE:CCO) Stock Crosses Below 200 Day Moving Average – What’s Next?

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$142.10 and traded as low as C$121.35. Cameco shares last traded at C$122.57, with a volume of 948,679 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCO. Royal Bank Of Canada set a C$184.00 price objective on shares of Cameco and gave the company an “outperform” rating in a research report on Thursday, September 24th. Truist Financial raised Cameco to a “strong-buy” rating in a report on Monday, July 13th. National Bank Financial set a C$185.00 price objective on shares of Cameco and gave the company an “outperform” rating in a research report on Monday, October 5th. Barclays decreased their target price on Cameco from C$149.00 to C$147.00 in a research report on Thursday, July 16th. Finally, UBS Group raised shares of Cameco from a “hold” rating to a “buy” rating and set a C$166.00 price target for the company in a report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$179.89.

Cameco Stock Up 1.8%

The company’s 50 day moving average price is C$132.09 and its two-hundred day moving average price is C$141.71. The stock has a market cap of C$51.45 billion, a P/E ratio of 145.83, a P/E/G ratio of 2.22 and a beta of 1.19. The company has a quick ratio of 3.74, a current ratio of 3.06 and a debt-to-equity ratio of 14.14.

Cameco (TSE:CCO) (NYSE:CCJ) last announced its quarterly earnings results on Friday, July 31st. The company reported C$0.18 EPS for the quarter. Cameco had a return on equity of 5.09% and a net margin of 10.21%. The firm had revenue of C$813.77 million for the quarter.

Cameco Company Profile

Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power.