Cameco Target of Unusually Large Options Trading (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the recipient of unusually large options trading on Thursday. Stock investors purchased 384,705 call options on the company. This is an increase of 1,490% compared to the average volume of 24,198 call options.

Cameco Stock Up 0.6%

Shares of CCJ opened at $79.94 on Friday. The company’s 50-day moving average price is $76.11 and its 200 day moving average price is $59.66. Cameco has a 12-month low of $35.00 and a 12-month high of $83.02. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The firm has a market cap of $34.81 billion, a P/E ratio of 91.89 and a beta of 1.04.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Sanford C. Bernstein set a $70.00 price objective on Cameco and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. Glj Research reiterated a “buy” rating and set a $75.27 price target on shares of Cameco in a report on Thursday, June 12th. Wall Street Zen raised shares of Cameco from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. National Bankshares restated an “outperform” rating on shares of Cameco in a research report on Friday, August 22nd. Finally, TD Securities reiterated a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $89.55.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CCJ. Vanguard Group Inc. raised its holdings in shares of Cameco by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,565,529 shares of the basic materials company’s stock valued at $1,304,504,000 after buying an additional 481,171 shares during the period. Alliancebernstein L.P. grew its position in Cameco by 39.3% in the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock valued at $578,226,000 after acquiring an additional 3,959,837 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Cameco by 41.4% during the second 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 purchasing an additional 2,071,373 shares during the period. Norges Bank acquired a new stake in shares of Cameco during the second quarter worth about $341,736,000. Finally, AGF Management Ltd. lifted its position in shares of Cameco by 19.0% during the first quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company’s stock worth $166,206,000 after purchasing an additional 644,413 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.