Cameco (TSE:CCO) Shares Cross Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Cameco shares fell below their 200-day moving average during Thursday trading, with the stock dipping to C$124.11 before last trading at C$125.87. The move comes as the shares sit well below both their 50-day and 200-day averages.
• Analysts remain broadly positive despite the recent weakness, with multiple firms raising price targets to as high as C$190 and several issuing Buy or Strong Buy ratings. MarketBeat’s consensus view is a Moderate Buy with an average target price of C$176.17.
• The company’s fundamentals and insider activity were also noted, including a market cap of C$54.82 billion and a recent quarterly EPS of C$0.47 on revenue of C$845.37 million. An insider sale by Alexandre Aubin in June reduced his holdings significantly, though insiders still own a very small stake overall.

Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ's stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.

Analysts Set New Price Targets

CCO has been the subject of several recent analyst reports. TD upped their price objective on shares of Cameco from C$185.00 to C$190.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Desjardins lifted their target price on shares of Cameco from C$185.00 to C$190.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Truist Financial raised shares of Cameco to a "strong-buy" rating in a research report on Monday, July 13th. National Bank Financial upped their price target on shares of Cameco from C$175.00 to C$180.00 and gave the company an "outperform" rating in a report on Wednesday, May 6th. Finally, Scotia raised their price target on Cameco from C$150.00 to C$175.00 and gave the company a "sector outperform" rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of C$176.17.

Cameco Stock Down 1.1%

The firm has a 50-day moving average price of C$142.61 and a two-hundred day moving average price of C$153.00. The company has a market capitalization of C$54.82 billion, a P/E ratio of 84.48, a PEG ratio of 2.22 and a beta of 0.81. The company has a quick ratio of 3.74, a current ratio of 3.08 and a debt-to-equity ratio of 14.11.

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

Insider Activity

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

Cameco Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.