Cameco (TSE:CCO) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s share 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.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCO. Canadian Imperial Bank of Commerce lifted their price objective on shares of Cameco from C$115.00 to C$202.00 in a research report on Monday, March 9th. Scotiabank lowered their price target on Cameco from C$155.00 to C$150.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Stifel Nicolaus raised their target price on Cameco from C$165.00 to C$180.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. National Bank Financial boosted their price target on Cameco from C$145.00 to C$175.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Finally, Sanford C. Bernstein upped their price target on Cameco from C$139.00 to C$201.00 in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$174.85.

Cameco Price Performance

The stock has a market cap of C$65.43 billion, a P/E ratio of 111.28, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. The company has a current ratio of 2.47, a quick ratio of 3.74 and a debt-to-equity ratio of 14.82. The company’s fifty day simple moving average is C$160.34 and its 200-day simple moving average is C$136.05.

Cameco (TSE:CCO) (NYSE:CCJ) last released its quarterly earnings data on Friday, February 13th. The company reported C$0.50 EPS for the quarter. The company 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%.

About Cameco

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.