Cameco (TSE:CCO) Stock Crosses Above 200-Day Moving Average - Here's Why

Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ's stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$69.81 and traded as high as C$82.10. Cameco shares last traded at C$82.01, with a volume of 928,254 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CCO shares. Raymond James dropped their price objective on shares of Cameco from C$84.00 to C$83.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Desjardins raised shares of Cameco to a "moderate buy" rating in a research note on Thursday, April 3rd. Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a report on Wednesday, March 12th. Scotiabank reduced their target price on Cameco from C$81.00 to C$80.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group upped their price target on Cameco from C$82.50 to C$83.50 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Seven research analysts have rated the stock with a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Cameco presently has a consensus rating of "Buy" and a consensus target price of C$82.65.

Cameco Trading Up 0.8%

The firm has a market capitalization of C$36.42 billion, a PE ratio of 312.62, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a debt-to-equity ratio of 20.35, a quick ratio of 3.74 and a current ratio of 2.88. The firm has a fifty day moving average of C$66.28 and a 200 day moving average of C$69.83.

Cameco Company Profile

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.