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

Cameco Corp (NYSE:CCJ) (TSE:CCO) was the target of unusually large options trading on Wednesday. Stock traders acquired 23,903 call options on the stock. This represents an increase of approximately 2,382% compared to the typical volume of 963 call options.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Cameco by 2.1% in the 4th quarter. BlackRock Inc. now owns 218,299 shares of the basic materials company’s stock valued at $2,478,000 after purchasing an additional 4,558 shares during the period. AlphaCrest Capital Management LLC purchased a new position in shares of Cameco in the 4th quarter valued at approximately $129,000. JPMorgan Chase & Co. lifted its stake in shares of Cameco by 295.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 603,408 shares of the basic materials company’s stock valued at $6,879,000 after purchasing an additional 450,970 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Cameco in the 1st quarter valued at approximately $6,794,000. Finally, Bank of Montreal Can lifted its stake in shares of Cameco by 95.8% in the 1st quarter. Bank of Montreal Can now owns 6,224,637 shares of the basic materials company’s stock valued at $73,389,000 after purchasing an additional 3,045,011 shares during the period. Institutional investors own 51.64% of the company’s stock.

NYSE CCJ opened at $10.21 on Thursday. Cameco has a fifty-two week low of $9.39 and a fifty-two week high of $13.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.55 and a quick ratio of 1.78. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 25.53 and a beta of 0.87.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). Cameco had a return on equity of 3.13% and a net margin of 4.72%. The business had revenue of $297.50 million during the quarter, compared to analysts’ expectations of $392.93 million. During the same quarter last year, the business posted $0.06 EPS. The company’s quarterly revenue was down 32.3% compared to the same quarter last year. As a group, research analysts expect that Cameco will post 0.03 earnings per share for the current year.

CCJ has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “hold” rating on shares of Cameco in a report on Thursday, May 2nd. Zacks Investment Research upgraded Cameco from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Friday, May 10th. Raymond James reiterated a “buy” rating on shares of Cameco in a report on Thursday, May 2nd. Finally, TD Securities cut Cameco from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $14.67.

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Cameco Company Profile

Cameco Corporation produces and sells uranium worldwide. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; and the Inkai property located in Kazakhstan.

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