Cameco (TSE:CCO) Stock Crosses Above 200-Day Moving Average – Here’s Why

Cameco Co. (TSE:CCO) (NYSE:CCJ) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$68.41 and traded as high as C$75.07. Cameco shares last traded at C$74.29, with a volume of 314,340 shares traded.

Analyst Upgrades and Downgrades

CCO has been the topic of several research reports. BMO Capital Markets lifted their price objective on shares of Cameco from C$78.00 to C$84.00 in a report on Friday, November 8th. Eight Capital boosted their price target on Cameco from C$80.00 to C$90.00 in a research report on Friday, November 8th. Scotiabank upped their price objective on Cameco from C$80.00 to C$86.00 in a research note on Tuesday, November 19th. National Bankshares lifted their target price on Cameco from C$85.00 to C$87.00 in a research note on Friday, November 8th. Finally, Raymond James increased their price target on shares of Cameco from C$81.00 to C$88.00 in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Cameco presently has a consensus rating of “Buy” and a consensus price target of C$84.30.

Cameco Stock Performance

The company has a debt-to-equity ratio of 25.39, a current ratio of 3.22 and a quick ratio of 3.74. The firm has a market cap of C$35.26 billion, a price-to-earnings ratio of 137.32, a P/E/G ratio of 2.22 and a beta of 0.90. The firm has a fifty day simple moving average of C$77.56 and a two-hundred day simple moving average of C$68.50.

Cameco (TSE:CCO) (NYSE:CCJ) last released its earnings results on Thursday, November 7th. The company reported C($0.01) earnings per share for the quarter, missing the consensus estimate of C$0.23 by C($0.24). Cameco had a return on equity of 4.23% and a net margin of 9.70%. During the same quarter in the previous year, the company posted $0.32 EPS.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a dividend of $0.16 per share. This is an increase from Cameco’s previous annual dividend of $0.12. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a dividend yield of 0.22%. Cameco’s payout ratio is 20.34%.

Insider Activity at Cameco

In other news, Senior Officer Tim Scott Gitzel sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of C$85.66, for a total value of C$4,283,000.00. Also, Senior Officer Brian Arthur Reilly sold 14,062 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of C$79.98, for a total value of C$1,124,678.76. Insiders have sold a total of 80,962 shares of company stock worth $6,800,456 over the last quarter. Insiders own 0.15% of the company’s stock.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.