Cameco (TSE:CCO) Share Price Crosses Above 200-Day Moving Average Following Analyst Downgrade

Cameco Corp (TSE:CCO) (NYSE:CCJ)’s stock price crossed above its 200-day moving average during trading on Friday after BMO Capital Markets raised their price target on the stock from C$16.50 to C$17.50. The stock has a 200-day moving average of $13.91 and traded as high as $12.89. Cameco shares last traded at $12.82, with a volume of 486,092 shares trading hands.

Other equities research analysts have also recently issued research reports about the company. CIBC raised their price objective on Cameco from C$16.00 to C$17.00 in a report on Monday, January 21st. Royal Bank of Canada raised their price objective on Cameco from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a report on Monday, November 5th. Finally, Raymond James restated an “outperform” rating and set a C$18.00 price objective on shares of Cameco in a report on Monday, November 5th.

The firm has a fifty day moving average price of C$11.63 and a 200-day moving average price of C$13.90. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 30.32. The firm has a market cap of $5.01 billion and a price-to-earnings ratio of 34.73.

Cameco (TSE:CCO) (NYSE:CCJ) last posted its quarterly earnings data on Thursday, July 25th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.03) by C($0.01). The firm had revenue of C$388.00 million during the quarter. During the same quarter in the previous year, the business earned ($0.06) EPS. Equities research analysts anticipate that Cameco Corp will post 0.1301032 earnings per share for the current fiscal year.

Cameco Company Profile (TSE:CCO)

Cameco Corporation produces and sells uranium worldwide. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; and the Inkai property located in Kazakhstan.

Further Reading: The limitations of an equal weight rating

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