Cameco (TSE:CCO) Shares Pass Below Two Hundred Day Moving Average - Here's Why

Key Points

• Cameco shares fell below their 200-day moving average, trading as low as C$138.91 versus the C$148.50 average, before last changing hands at C$141.60.
• Despite the technical weakness, analysts remain broadly positive: Cameco has an average “Buy” rating and a consensus price target of C$175.61, with recent targets ranging up to C$180.
• The company has a C$61.67 billion market capitalization and is a major global uranium supplier, with strategic interests in Westinghouse Electric and Global Laser Enrichment.

Shares of Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$148.50 and traded as low as C$138.91. Cameco shares last traded at C$141.60, with a volume of 748,916 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCO. Truist Financial raised Cameco to a "strong-buy" rating in a research report on Monday, July 13th. National Bank Financial boosted their target price on Cameco from C$175.00 to C$180.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their price target on Cameco from C$160.00 to C$175.00 and gave the stock an "outperform" rating in a report on Monday, June 29th. Barclays reduced their price target on Cameco from C$149.00 to C$147.00 in a research report on Thursday, July 16th. Finally, Scotia lifted their price objective on Cameco from C$150.00 to C$175.00 and gave the company a "sector outperform" rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$175.61.

Cameco Trading Up 0.3%

The firm has a market cap of C$61.67 billion, a PE ratio of 174.81, a P/E/G ratio of 2.22 and a beta of 0.78. The company has a current ratio of 3.06, a quick ratio of 3.74 and a debt-to-equity ratio of 14.14. The business has a fifty day moving average price of C$135.22 and a 200 day moving average price of C$148.50.

Insider Activity at Cameco

In related news, insider Alexandre Aubin sold 300 shares of Cameco stock in a transaction on 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 sale, the insider directly owned 20 shares in the company, valued at C$2,970.60. This trade represents a 93.75% decrease in their position. 0.15% of the stock is owned by company insiders.

Cameco Company Profile

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source