The stock of Cameco Corporation (TSE:CCO) hit a new 52-week low and has $10.37 target or 9.00% below today’s $11.40 share price. The 8 months bearish chart indicates high risk for the $4.51 billion company. The 1-year low was reported on Sep, 13 by Barchart.com. If the $10.37 price target is reached, the company will be worth $405.90M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 826,999 shares traded hands. Cameco Corporation (TSE:CCO) has declined 31.35% since February 5, 2016 and is downtrending. It has underperformed by 47.84% the S&P500.
Out of 7 analysts covering Cameco Corporation (TSE:CCO), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $27 is the highest target while $14.50 is the lowest. The $20.03 average target is 75.70% above today’s ($11.4) stock price. Cameco Corporation has been the topic of 16 analyst reports since September 21, 2015 according to StockzIntelligence Inc.
Cameco Corporation is a uranium producer. The company has a market cap of $4.51 billion. The Firm is engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. It currently has negative earnings. The Firm operates through three divisions: uranium, fuel services and NUKEM.
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