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

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$153.00 and traded as low as C$124.11. Cameco shares last traded at C$125.87, with a volume of 1,036,778 shares.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCO. Scotia raised their price target on shares of Cameco from C$150.00 to C$175.00 and gave the company a “sector outperform” rating in a report on Wednesday, May 6th. Canaccord Genuity Group upped their target price on Cameco from C$185.00 to C$195.00 in a research report on Wednesday, May 6th. Truist Financial raised Cameco to a “strong-buy” rating in a report on Monday, July 13th. Barclays decreased their price target on Cameco from C$149.00 to C$147.00 in a research note on Thursday, July 16th. Finally, National Bank Financial lifted their target price on Cameco from C$175.00 to C$180.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$176.17.

Cameco Trading Down 1.6%

The company has a current ratio of 3.08, a quick ratio of 3.74 and a debt-to-equity ratio of 14.11. The company has a fifty day simple moving average of C$142.13 and a 200-day simple moving average of C$152.80. The company has a market capitalization of C$53.95 billion, a PE ratio of 83.13, a PEG ratio of 2.22 and a beta of 0.81.

Cameco (TSE:CCO) (NYSE:CCJ) last released its quarterly earnings results on Tuesday, May 5th. The company reported C$0.47 earnings per share for the quarter. Cameco had a return on equity of 9.47% and a net margin of 18.39%.The firm had revenue of C$845.37 million during the quarter.

Insider Buying and Selling at Cameco

In related news, insider Alexandre Aubin sold 300 shares of Cameco stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of C$148.53, for a total value of C$44,559.00. Following the completion of the sale, the insider owned 20 shares of the company’s stock, valued at approximately C$2,970.60. This trade represents a 93.75% decrease in their position. Insiders own 0.15% of the company’s stock.

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.