Cameco (TSE:CCO) Share Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Cameco's share price crossed above its 200-day moving average (200-day MA C$141.91) during trading, rising as high as C$168.28 and last trading around C$164.96 on volume of about 1,003,980 shares.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" (11 Buys, 2 Holds) and a consensus target of C$174.85, though recent notes show mixed moves—Sanford Bernstein raised its target to C$201 while several firms trimmed targets and TD Securities cut its rating to Hold.
• Fundamentals: Cameco reported C$0.50 EPS on C$1.20 billion revenue for the quarter, has a market cap of about C$71.85 billion and a high P/E of 122.19; the company is a leading uranium producer with capacity to ramp production by restarting or investing in mines.

Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ's share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$141.91 and traded as high as C$168.28. Cameco shares last traded at C$164.96, with a volume of 1,003,980 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Canaccord Genuity Group reduced their price target on shares of Cameco from C$190.00 to C$185.00 in a research note on Tuesday, February 17th. Sanford C. Bernstein boosted their target price on shares of Cameco from C$139.00 to C$201.00 in a research note on Thursday, February 5th. Scotiabank lowered their price target on Cameco from C$155.00 to C$150.00 and set an "outperform" rating on the stock in a report on Tuesday, February 17th. Berenberg Bank dropped their price target on Cameco from C$201.00 to C$183.00 in a research note on Thursday, February 19th. Finally, TD Securities lowered Cameco from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$174.85.

Cameco Stock Up 0.7%

The company has a debt-to-equity ratio of 14.82, a current ratio of 2.47 and a quick ratio of 3.74. The company has a market capitalization of C$71.85 billion, a PE ratio of 122.19, a P/E/G ratio of 2.22 and a beta of 0.76. The business has a 50-day moving average of C$156.45 and a 200 day moving average of C$141.91.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last posted its earnings results on Friday, February 13th. The company reported C$0.50 earnings per share for the quarter. Cameco had a net margin of 16.93% and a return on equity of 8.76%. The firm had revenue of C$1.20 billion during the quarter.

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.

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