Cameco Co. (TSE:CCO – Get Free Report) (NYSE:CCJ) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$147.56 and traded as high as C$151.28. Cameco shares last traded at C$147.99, with a volume of 838,634 shares.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Canaccord Genuity Group increased their target price on Cameco from C$185.00 to C$195.00 in a report on Wednesday, May 6th. Berenberg Bank cut their price target on Cameco from C$201.00 to C$183.00 in a research note on Thursday, February 19th. Scotia upped their price target on shares of Cameco from C$150.00 to C$175.00 and gave the company a “sector outperform” rating in a research report on Wednesday, May 6th. William Blair upgraded shares of Cameco to a “strong-buy” rating in a research note on Monday, April 20th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Cameco from C$115.00 to C$202.00 in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$176.19.
Check Out Our Latest Report on Cameco
Cameco Stock Down 4.1%
Cameco (TSE:CCO – Get Free Report) (NYSE:CCJ) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$0.47 EPS for the quarter. Cameco had a return on equity of 9.47% and a net margin of 18.39%.The business had revenue of C$845.37 million during the quarter.
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. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.
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