Stock Traders Buy Large Volume of Cameco Call Options (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the recipient of some unusual options trading activity on Thursday. Investors acquired 384,705 call options on the stock. This is an increase of approximately 1,490% compared to the typical daily volume of 24,198 call options.

Cameco Trading Down 0.1 %

CCJ opened at $53.79 on Friday. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The firm has a market cap of $23.41 billion, a P/E ratio of 137.92 and a beta of 0.90. Cameco has a 52 week low of $35.43 and a 52 week high of $58.72. The business has a fifty day simple moving average of $45.96 and a 200-day simple moving average of $47.89.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.14). The firm had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business’s revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) earnings per share. On average, equities analysts expect that Cameco will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Cameco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock valued at $689,306,000 after buying an additional 200,871 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cameco by 2.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock worth $593,967,000 after acquiring an additional 288,400 shares in the last quarter. Capital World Investors increased its position in shares of Cameco by 1.6% in the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after purchasing an additional 215,741 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Cameco by 3.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after purchasing an additional 202,157 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of Cameco by 6.8% during the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after purchasing an additional 265,196 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CCJ. Scotiabank dropped their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Glj Research restated a “buy” rating and issued a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Company Profile

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.