Stock Traders Purchase 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 acquired 384,705 call options on the stock. Thisrepresentsanincreaseofapproximately1,490% compared to the typical volume of 24,198 call options.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CCJ shares. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research note on Tuesday, July 8th. The Goldman Sachs Group raised their price objective on Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Royal Bank Of Canada raised their price objective on Cameco from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, June 18th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Cameco in a research note on Tuesday, August 5th. Twelve analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $82.65.

Cameco Trading Down 0.1%

CCJ opened at $75.51 on Friday. The stock’s fifty day moving average is $73.74 and its two-hundred day moving average is $56.01. The company has a market capitalization of $32.88 billion, a P/E ratio of 86.79 and a beta of 1.06. Cameco has a 52 week low of $35.00 and a 52 week high of $80.32. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%. Cameco’s quarterly revenue was up 46.7% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. Analysts forecast that Cameco will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Cameco by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 17,565,529 shares of the basic materials company’s stock worth $1,304,504,000 after buying an additional 481,171 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cameco by 1.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company’s stock worth $865,729,000 after buying an additional 190,337 shares during the last quarter. Alliancebernstein L.P. grew its stake in Cameco by 39.3% during the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock worth $578,226,000 after buying an additional 3,959,837 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after buying an additional 2,071,373 shares during the last quarter. Finally, Norges Bank purchased a new position in Cameco during the 2nd quarter worth $341,736,000. 70.21% of the stock is currently owned by hedge funds and other 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.