Cameco (TSE:CCO) Reaches New 12-Month Low - Here's What Happened

Key Points

• Cameco shares fell 4.1% to C$110.12, reaching a new 52-week low of C$109.84, well below their 50-day and 200-day moving averages.
• Despite the decline, analysts remain broadly bullish: Cameco has an average “Buy” rating and a consensus price target of C$179.89, with several firms assigning targets between C$166 and C$190.
• The company reported C$0.18 in quarterly earnings per share on C$813.77 million in revenue, with a 10.21% net margin and a 5.09% return on equity.

Shares of Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ reached a new 52-week low during mid-day trading on Thursday. The company traded as low as C$109.84 and last traded at C$110.12, with a volume of 446,581 shares changing hands. The stock had previously closed at C$115.22.

Analysts Set New Price Targets

CCO has been the topic of a number of analyst reports. TD set a C$190.00 price objective on Cameco and gave the stock a "buy" rating in a research report on Thursday, September 24th. National Bank Financial set a C$185.00 price objective on Cameco and gave the stock an "outperform" rating in a research note on Monday, October 5th. Jefferies Financial Group set a C$190.00 target price on Cameco and gave the company a "buy" rating in a report on Thursday, September 3rd. Truist Financial raised Cameco to a "strong-buy" rating in a research note on Monday, July 13th. Finally, UBS Group upgraded Cameco from a "hold" rating to a "buy" rating and set a C$166.00 price target on the stock in a report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cameco presently has an average rating of "Buy" and a consensus target price of C$179.89.

Cameco Stock Down 4.1%

The company has a debt-to-equity ratio of 14.14, a current ratio of 3.06 and a quick ratio of 3.74. The company has a market capitalization of C$48.15 billion, a PE ratio of 136.48, a P/E/G ratio of 2.22 and a beta of 1.19. The business's 50 day simple moving average is C$130.30 and its 200 day simple moving average is C$140.67.

Cameco (TSE:CCO - Get Free Report) NYSE: CCJ last posted its quarterly earnings results on Friday, July 31st. The company reported C$0.18 earnings per share for the quarter. The business had revenue of C$813.77 million during the quarter. Cameco had a net margin of 10.21% and a return on equity of 5.09%.

About Cameco

Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power.

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