Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) saw unusually large options trading activity on Thursday. Traders acquired 384,705 call options on the company. This represents an increase of 1,490% compared to the average daily volume of 24,198 call options.

Cameco Price Performance

Shares of CCJ opened at $78.04 on Friday. The company has a market capitalization of $33.97 billion, a P/E ratio of 195.11 and a beta of 1.03. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $64.82 and a 200 day moving average of $52.34. Cameco has a twelve month low of $35.00 and a twelve month high of $78.51.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results 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). The company had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. As a group, equities research analysts anticipate that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Manchester Capital Management LLC boosted its stake in shares of Cameco by 100.0% during 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. Hurley Capital LLC purchased a new position in shares of Cameco during the 4th quarter valued at $27,000. Dagco Inc. purchased a new position in shares of Cameco during the 1st quarter valued at $28,000. SVB Wealth LLC purchased a new position in shares of Cameco during the 1st quarter valued at $29,000. Finally, Atticus Wealth Management LLC bought a new stake in Cameco in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

CCJ has been the subject of a number of analyst reports. Royal Bank Of Canada increased their target price on shares of Cameco from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. Desjardins initiated coverage on shares of Cameco in a report on Friday, April 4th. They set a “buy” rating for the company. UBS Group reiterated a “buy” rating on shares of Cameco in a report on Tuesday, June 10th. Glj Research reissued a “buy” rating and issued a $75.27 price target on shares of Cameco in a research note on Thursday, June 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Cameco in a research note on Tuesday, July 8th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $80.65.

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.