Traders Purchase Large Volume of Call Options on Cameco (NYSE:CCJ)

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

Cameco Trading Down 0.4%

NYSE:CCJ opened at $115.41 on Friday. The business’s 50-day moving average is $114.10 and its two-hundred day moving average is $101.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. Cameco has a 12 month low of $37.77 and a 12 month high of $135.24. The firm has a market capitalization of $50.26 billion, a PE ratio of 118.98 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same quarter last year, the firm posted $0.36 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts predict that Cameco will post 1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

CCJ has been the topic of a number of recent research reports. Royal Bank Of Canada upped their target price on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Glj Research reissued a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.40.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Consulate Inc. bought a new stake in Cameco in the third quarter valued at about $25,000. Nisa Investment Advisors LLC bought a new stake in Cameco during the fourth quarter valued at $25,000. Founders Capital Management bought a new stake in Cameco during the fourth quarter valued at $27,000. Strategic Advocates LLC bought a new stake in Cameco during the third quarter valued at $28,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in Cameco during the fourth quarter valued at $28,000. Institutional investors own 70.21% of the company’s stock.

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.