Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) saw some unusual options trading on Thursday. Stock investors purchased 384,705 call options on the stock. This is an increase of 1,490% compared to the typical daily volume of 24,198 call options.

Hedge Funds Weigh In On Cameco

Several hedge funds have recently modified their holdings of the stock. Financial Consulate Inc. bought a new stake in Cameco in the 3rd quarter valued at $25,000. Nisa Investment Advisors LLC acquired a new position in shares of Cameco in the fourth quarter valued at $25,000. Founders Capital Management bought a new position in shares of Cameco in the fourth quarter valued at about $27,000. Strategic Advocates LLC acquired a new stake in shares of Cameco during the 3rd quarter worth about $28,000. Finally, Armstrong Advisory Group Inc. lifted its stake in shares of Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after buying an additional 182 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Trading Down 2.4%

CCJ opened at $116.28 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The company has a market cap of $50.64 billion, a price-to-earnings ratio of 135.21 and a beta of 0.99. The firm has a 50 day simple moving average of $105.99 and a 200 day simple moving average of $91.62. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $135.24.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CCJ shares. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Zacks Research upgraded shares of Cameco from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada lowered their target price on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, November 13th. The Goldman Sachs Group restated a “buy” rating and set a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. Finally, Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $131.39.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.