Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the target of unusually large options trading on Thursday. Stock investors purchased 384,705 call options on the company. This represents an increase of approximately 1,490% compared to the typical volume of 24,198 call options.

Cameco Price Performance

Shares of NYSE CCJ opened at $42.44 on Friday. Cameco has a twelve month low of $35.43 and a twelve month high of $62.55. The business has a 50 day simple moving average of $47.80 and a 200-day simple moving average of $49.91. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $18.47 billion, a price-to-earnings ratio of 151.55 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The business had revenue of $845.54 million during the quarter, compared to analyst estimates of $1.09 billion. As a group, equities research analysts expect that Cameco will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. StockNews.com lowered Cameco from a “hold” rating to a “sell” rating in a research report on Tuesday. Stifel Nicolaus began coverage on shares of Cameco in a research note on Wednesday. They set a “buy” rating on the stock. Finally, Glj Research raised their price target on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $73.64.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dantai Capital Ltd lifted its position in Cameco by 44.2% in the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after buying an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC acquired a new stake in Cameco in the fourth quarter valued at approximately $895,000. Whalen Wealth Management Inc. bought a new stake in Cameco in the fourth quarter worth approximately $445,000. Sprott Inc. increased its stake in shares of Cameco by 44.5% during the 4th quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock worth $5,750,000 after purchasing an additional 34,483 shares during the last quarter. Finally, iA Global Asset Management Inc. bought a new position in shares of Cameco during the 3rd quarter valued at $5,305,000. 70.21% of the stock is currently owned by institutional investors.

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.