Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the target of some unusual options trading activity on Thursday. Stock traders bought 384,705 call options on the company. Thisrepresentsanincreaseofapproximately1,490% compared to the typical volume of 24,198 call options.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. BMO Capital Markets reiterated an “outperform” rating on shares of Cameco in a report on Tuesday, August 5th. Scotiabank reiterated an “outperform” rating on shares of Cameco in a report on Tuesday, July 8th. TD Securities reiterated a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, June 18th. Three research analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $83.32.

Hedge Funds Weigh In On Cameco

A number of large investors have recently modified their holdings of CCJ. 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 buying an additional 300 shares during the last quarter. Dagco Inc. acquired a new position in shares of Cameco during the 1st quarter worth about $28,000. SVB Wealth LLC acquired a new position in shares of Cameco during the 1st quarter worth about $29,000. Trust Co. of Vermont lifted its stake in Cameco by 1,029.4% in the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 350 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in Cameco in the 2nd quarter valued at about $30,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Up 4.5%

Cameco stock opened at $78.69 on Friday. The firm has a 50-day moving average of $75.04 and a 200-day moving average of $57.57. Cameco has a one year low of $35.00 and a one year high of $80.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The company has a market cap of $34.26 billion, a price-to-earnings ratio of 90.44 and a beta of 1.06.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same period in the prior year, the business posted $0.14 EPS. The company’s quarterly revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. On average, equities analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

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.