Cameco (TSE:CCO) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$153.00 and traded as low as C$124.11. Cameco shares last traded at C$125.87, with a volume of 1,036,778 shares traded.

Analyst Ratings Changes

CCO has been the topic of a number of research reports. Royal Bank Of Canada boosted their price objective on Cameco from C$160.00 to C$175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. National Bank Financial lifted their price target on shares of Cameco from C$175.00 to C$180.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Truist Financial raised shares of Cameco to a “strong-buy” rating in a report on Monday, July 13th. TD increased their price objective on shares of Cameco from C$185.00 to C$190.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Canaccord Genuity Group increased their price objective on shares of Cameco from C$185.00 to C$195.00 in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Cameco has a consensus rating of “Moderate Buy” and a consensus price target of C$176.17.

Cameco Stock Performance

The company has a market capitalization of C$54.82 billion, a P/E ratio of 84.48, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The firm has a 50 day moving average price of C$142.61 and a two-hundred day moving average price of C$153.00. The company has a debt-to-equity ratio of 14.11, a quick ratio of 3.74 and a current ratio of 3.08.

Cameco (TSE:CCO) (NYSE:CCJ) last issued its earnings results on Tuesday, May 5th. The company reported C$0.47 earnings per share (EPS) for the quarter. The business had revenue of C$845.37 million during the quarter. Cameco had a return on equity of 9.47% and a net margin of 18.39%.

Insiders Place Their Bets

In other Cameco news, insider Alexandre Aubin sold 300 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of C$148.53, for a total transaction of C$44,559.00. Following the completion of the transaction, the insider directly owned 20 shares in the company, valued at C$2,970.60. This represents a 93.75% decrease in their ownership of the stock. 0.15% of the stock is owned by company insiders.

About Cameco

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.