Cameco (NYSE:CCJ) Stock Sees Heavy Call Option Buying

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the target of unusually large options trading on Friday. Investors bought 152,544 call options on the company. This is an increase of 496% compared to the typical volume of 25,582 call options.

Cameco Stock Up 4.3%

Shares of CCJ traded up $2.91 during mid-day trading on Friday, reaching $71.24. The company’s stock had a trading volume of 3,039,186 shares, compared to its average volume of 3,574,324. Cameco has a 12-month low of $66.06 and a 12-month high of $135.24. The stock has a market cap of $31.03 billion, a PE ratio of 108.23, a price-to-earnings-growth ratio of 1.59 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.55 and a quick ratio of 2.10. The company’s 50 day moving average is $87.96 and its 200 day moving average is $103.37.

Cameco Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a C$0.24 dividend. This represents a yield of 22.0%. The ex-dividend date of this dividend is Monday, November 30th. Cameco’s dividend payout ratio is 24.24%.

Analyst Ratings Changes

CCJ has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Cameco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Jefferies Financial Group initiated coverage on shares of Cameco in a research note on Thursday, September 3rd. They issued a “buy” rating and a $138.00 price target for the company. Citigroup reiterated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Finally, Barclays decreased their price objective on shares of Cameco from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Monday. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cameco has a consensus rating of “Moderate Buy” and an average price target of $147.38.

Hedge Funds Weigh In On Cameco

Several hedge funds have recently added to or reduced their stakes in the stock. Money Concepts Capital Corp boosted its holdings in shares of Cameco by 5.7% in the 3rd quarter. Money Concepts Capital Corp now owns 7,708 shares of the basic materials company’s stock valued at $668,000 after buying an additional 414 shares in the last quarter. Allworth Financial LP raised its stake in Cameco by 26.6% during the 3rd quarter. Allworth Financial LP now owns 5,979 shares of the basic materials company’s stock worth $518,000 after acquiring an additional 1,257 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Cameco by 15.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 396,891 shares of the basic materials company’s stock worth $34,426,000 after acquiring an additional 51,664 shares in the last quarter. Nikulski Financial Inc. lifted its position in Cameco by 8.9% in the third quarter. Nikulski Financial Inc. now owns 17,505 shares of the basic materials company’s stock valued at $1,517,000 after acquiring an additional 1,426 shares during the last quarter. Finally, CENTRAL TRUST Co purchased a new stake in Cameco in the third quarter valued at $453,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.