Cameco (TSE:CCO) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$68.86 and traded as high as C$72.41. Cameco shares last traded at C$71.30, with a volume of 1,259,050 shares.

Analyst Upgrades and Downgrades

Several research firms have commented on CCO. National Bankshares raised their target price on shares of Cameco from C$85.00 to C$87.00 in a research note on Friday, November 8th. Scotiabank raised their price objective on shares of Cameco from C$80.00 to C$86.00 in a research note on Tuesday, November 19th. BMO Capital Markets upped their target price on Cameco from C$78.00 to C$84.00 in a research report on Friday, November 8th. Eight Capital lifted their price target on Cameco from C$80.00 to C$90.00 in a research report on Friday, November 8th. Finally, Royal Bank of Canada upped their price objective on Cameco from C$75.00 to C$90.00 in a report on Thursday, November 21st. Five investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$84.30.

Cameco Stock Up 2.3 %

The company has a market capitalization of C$31.03 billion, a price-to-earnings ratio of 120.85, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. The company has a quick ratio of 3.74, a current ratio of 3.22 and a debt-to-equity ratio of 25.39. The business has a 50-day moving average price of C$76.00 and a 200-day moving average price of C$68.86.

Cameco (TSE:CCO) (NYSE:CCJ) last posted its quarterly earnings data on Thursday, November 7th. The company reported C($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.23 by C($0.24). Cameco had a return on equity of 4.23% and a net margin of 9.70%. During the same period last year, the company posted $0.32 EPS.

Insider Activity

In other Cameco news, Senior Officer Tim Scott Gitzel sold 50,000 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of C$85.66, for a total transaction of C$4,283,000.00. Also, Senior Officer Brian Arthur Reilly sold 14,062 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of C$79.98, for a total transaction of C$1,124,678.76. Insiders have sold a total of 80,962 shares of company stock worth $6,800,456 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.