Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 384,705 call options on the company. This is an increase of approximately 1,490% compared to the typical volume of 24,198 call options.

Cameco Stock Performance

NYSE:CCJ opened at $50.49 on Friday. Cameco has a 12-month low of $35.43 and a 12-month high of $56.24. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $21.97 billion, a PE ratio of 129.46 and a beta of 0.90. The firm has a 50-day moving average price of $42.32 and a 200 day moving average price of $47.19.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. During the same period last year, the company earned ($0.01) EPS. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. Research analysts anticipate that Cameco will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Several large investors have recently added to or reduced their stakes in CCJ. Nebula Research & Development LLC bought a new stake in Cameco during the fourth quarter worth about $912,000. Cohen & Steers Inc. increased its holdings in shares of Cameco by 49.7% in the fourth quarter. Cohen & Steers Inc. now owns 91,970 shares of the basic materials company’s stock valued at $3,964,000 after purchasing an additional 30,519 shares in the last quarter. Bornite Capital Management LP acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $6,590,000. Goehring & Rozencwajg Associates LLC increased its holdings in shares of Cameco by 3.4% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 747,366 shares of the basic materials company’s stock valued at $32,211,000 after purchasing an additional 24,720 shares in the last quarter. Finally, Sunpointe LLC acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $544,000. 70.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CCJ shares. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Glj Research reissued a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Finally, Scotiabank cut their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Buy” and an average target price of $66.56.

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.