Investors Buy High Volume of Cameco Call Options (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the target of some unusual options trading on Thursday. Stock traders purchased 384,705 call options on the company. This represents an increase of approximately 1,490% compared to the average daily volume of 24,198 call options.

Cameco Stock Up 1.9%

CCJ opened at $73.02 on Friday. Cameco has a one year low of $35.00 and a one year high of $75.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70. The stock’s fifty day moving average is $59.91 and its 200-day moving average is $50.99. The company has a market capitalization of $31.79 billion, a PE ratio of 182.55 and a beta of 1.03.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Cameco had a return on equity of 4.47% and a net margin of 7.50%. The firm had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. During the same period in the prior year, the firm posted $0.13 EPS. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. On average, equities analysts predict that Cameco will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

Hedge funds have recently modified their holdings of the stock. Hurley Capital LLC acquired a new position in shares of Cameco in the 4th quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Cameco in the 4th quarter worth $28,000. Manchester Capital Management LLC grew its holdings in shares of Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 300 shares during the last quarter. Dagco Inc. acquired a new position in shares of Cameco in the 1st quarter worth $28,000. Finally, SVB Wealth LLC acquired a new position in shares of Cameco in the 1st quarter worth $29,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCJ has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on Cameco in a research report on Wednesday, March 12th. They set a “buy” rating for the company. Glj Research restated a “buy” rating and set a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the company an “outperform” rating in a research note on Tuesday, June 10th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, June 18th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cameco has a consensus rating of “Buy” and a consensus price target of $80.65.

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.