Cameco Corporation [CCJ] Is Currently -2.70 below its 200 Period Moving Avg: What Does This Mean?


Cameco Corporation [NYSE: CCJ] price plunged by -2.70 percent to reach at -$0.75. The company report on April 4, 2022 that Baselode Intersects Widest Zone of Elevated Radioactivity To Date, Updates on ACKIO High-Grade Uranium Drill Program.

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Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (“Baselode” or the “Company”) is pleased to provide an update to the ongoing 20,000 metre diamond drilling program (the “Program”) on the ACKIO high-grade uranium discovery (“ACKIO”), Hook project (“Hook”), Athabasca Basin area, northern Saskatchewan.

“ACKIO continues to grow in size and impress us with results. Both AK22-18 and AK22-19 demonstrate the robust size of the uranium-fertile fluid pathways that have penetrated the ACKIO area. We are convinced that our drill holes to date have intersected the distal damage zone along the edges of a major mineralized structure and that a larger deposition point exists along the trend. Our recent structural analysis of ACKIO is very compelling as it confirms numerous features previously identified with our geophysical surveys which could lead to the discovery of zones with higher levels of radioactivity and point us to targets for unconformity mineralization. We are excited to continue drilling the ACKIO mineralized trend and to test other prospective targets on the Hook Project,” said James Sykes, CEO, President and Director of Baselode.

A sum of 9782644 shares traded at recent session while its average daily volume was at 8.61M shares. Cameco Corporation shares reached a high of $27.315 and dropped to a low of $25.9201 until finishing in the latest session at $26.99.

The one-year CCJ stock forecast points to a potential downside of -1.85. The average equity rating for CCJ stock is currently 1.90, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Cameco Corporation [CCJ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CCJ shares is $26.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CCJ stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Cameco Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 11, 2022. The new note on the price target was released on March 31, 2022, representing the official price target for Cameco Corporation stock. Previously, the target price had yet another raise to $32, while BofA Securities analysts kept a Buy rating on CCJ stock.

The Average True Range (ATR) for Cameco Corporation is set at 1.70, with the Price to Sales ratio for CCJ stock in the period of the last 12 months amounting to 10.36. The Price to Book ratio for the last quarter was 2.79, with the Price to Cash per share for the same quarter was set at 2.35. Price to Free Cash Flow for CCJ in the course of the last twelve months was 42.49 with Quick ratio for the last quarter at 4.20.

CCJ Stock Performance Analysis:

Cameco Corporation [CCJ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.80. With this latest performance, CCJ shares dropped by -6.93% in over the last four-week period, additionally plugging by 4.09% over the last 6 months – not to mention a rise of 63.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CCJ stock in for the last two-week period is set at 42.23, with the RSI for the last a single of trading hit 34.39, and the three-weeks RSI is set at 47.10 for Cameco Corporation [CCJ]. The present Moving Average for the last 50 days of trading for this stock 26.62, while it was recorded at 28.96 for the last single week of trading, and 22.88 for the last 200 days.

Insight into Cameco Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Cameco Corporation [CCJ] shares currently have an operating margin of -10.42 and a Gross Margin at -1.29. Cameco Corporation’s Net Margin is presently recorded at -6.95.

Return on Equity for this stock declined to -2.09, with Return on Assets sitting at -1.36.

Cameco Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.20 and a Current Ratio set at 5.20.

Cameco Corporation [CCJ] Insider Position Details

There are presently around $6,467 million, or 70.10% of CCJ stock, in the hands of institutional investors. The top three institutional holders of CCJ stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 17,326,319, which is approximately -5.167% of the company’s market cap and around 0.20% of the total institutional ownership; WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC, holding 13,415,001 shares of the stock with an approximate value of $372.13 million in CCJ stocks shares; and VANGUARD GROUP INC, currently with $349.14 million in CCJ stock with ownership of nearly 2.054% of the company’s market capitalization.

Positions in Cameco Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 200 institutional holders increased their position in Cameco Corporation [NYSE:CCJ] by around 31,855,859 shares. Additionally, 171 investors decreased positions by around 30,387,163 shares, while 50 investors held positions by with 170,871,519 shares. The mentioned changes placed institutional holdings at 233,114,541 shares, according to the latest SEC report filing. CCJ stock had 83 new institutional investments in for a total of 11,081,947 shares, while 32 institutional investors sold positions of 4,125,463 shares during the same period.