Cameco (TSE:CCO) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$94.73 and traded as high as C$121.78. Cameco shares last traded at C$120.66, with a volume of 988,286 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CCO. Desjardins raised their target price on Cameco from C$105.00 to C$110.00 and gave the company a “buy” rating in a research note on Friday, August 1st. TD Securities raised their target price on Cameco from C$118.00 to C$142.00 in a research note on Tuesday. National Bankshares lifted their price objective on Cameco from C$110.00 to C$115.00 and gave the stock an “outperform” rating in a research report on Friday, August 22nd. BMO Capital Markets lifted their price objective on Cameco from C$110.00 to C$120.00 in a research report on Friday, August 29th. Finally, Raymond James Financial lifted their price objective on Cameco from C$115.00 to C$120.00 in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat.com, Cameco currently has an average rating of “Buy” and a consensus price target of C$119.61.

Cameco Stock Performance

The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35. The stock has a market cap of C$52.53 billion, a P/E ratio of 98.90, a PEG ratio of 2.22 and a beta of 1.12. The stock has a fifty day simple moving average of C$113.53 and a 200-day simple moving average of C$94.73.

Cameco Company Profile

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.