Cameco (TSE:CCO) Stock Crosses Above Two Hundred 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.

Shares of Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

CCO has been the topic of several recent analyst reports. Raymond James Financial boosted their price objective on shares of Cameco from C$115.00 to C$120.00 in a research note on Thursday, August 21st. Berenberg Bank boosted their price objective on shares of Cameco from C$75.00 to C$96.00 in a research note on Tuesday, June 10th. CLSA upgraded shares of Cameco to a "moderate buy" rating in a research note on Tuesday. TD Securities boosted their price objective 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. Finally, National Bankshares boosted their price objective on shares of Cameco from C$110.00 to C$115.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to MarketBeat, Cameco has a consensus rating of "Buy" and a consensus price target of C$109.69.

Cameco Stock Performance

The stock's 50-day simple moving average is C$104.87 and its 200-day simple moving average is C$83.01. The company has a current ratio of 2.88, a quick ratio of 3.74 and a debt-to-equity ratio of 20.35. The stock has a market cap of C$47.08 billion, a price-to-earnings ratio of 88.64, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13.

About Cameco

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.