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

Key Points

• Cameco Co. (TSE:CCO) shares surpassed their 200-day moving average of C$82.16, trading as high as C$109.81 recently.
• Analysts have raised their price targets for Cameco, with a consensus target of C$109.69 and multiple firms assigning "buy" and "strong buy" ratings.
• The company's current market capitalization is C$46.69 billion, with a PE ratio of 87.90 and a solid current ratio of 2.88.

Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ's share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$82.16 and traded as high as C$109.81. Cameco shares last traded at C$107.24, with a volume of 1,412,864 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. CLSA raised shares of Cameco to a "moderate buy" rating in a research note on Tuesday, September 9th. Stifel Nicolaus increased their target price on shares of Cameco from C$105.00 to C$115.00 in a research note on Tuesday, July 22nd. TD Securities increased their target price on shares of Cameco from C$115.00 to C$117.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Scotiabank increased their target price on shares of Cameco from C$100.00 to C$110.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Berenberg Bank increased their target price on shares of Cameco from C$75.00 to C$96.00 in a research note on Tuesday, June 10th. Three analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of C$109.69.

Cameco Stock Performance

The company has a debt-to-equity ratio of 20.35, a current ratio of 2.88 and a quick ratio of 3.74. The company's fifty day simple moving average is C$104.87 and its two-hundred day simple moving average is C$83.28. The stock has a market cap of C$48.04 billion, a price-to-earnings ratio of 90.45, a P/E/G ratio of 2.22 and a beta of 1.13.

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.