Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

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

Cameco Stock Up 5.2%

Shares of NYSE:CCJ opened at $94.07 on Friday. The company has a 50 day moving average price of $89.27 and a two-hundred day moving average price of $78.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The company has a market capitalization of $40.96 billion, a PE ratio of 109.38 and a beta of 1.07. Cameco has a 52 week low of $35.00 and a 52 week high of $110.15.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The firm had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. During the same period last year, the firm earned ($0.01) EPS. Cameco’s quarterly revenue was down 14.7% on a year-over-year basis. Analysts forecast that Cameco will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. This represents a yield of 27.0%. Cameco’s payout ratio is presently 19.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CCJ. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Royal Bank Of Canada reduced their price objective 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. Raymond James Financial upped their target price on shares of Cameco to $150.00 in a research report on Wednesday, October 29th. BMO Capital Markets reissued an “outperform” rating on shares of Cameco in a research note on Friday, August 29th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Cameco presently has a consensus rating of “Moderate Buy” and an average target price of $117.25.

Institutional Investors Weigh In On Cameco

Several large investors have recently modified their holdings of the business. Bison Wealth LLC raised its holdings in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the last quarter. US Bancorp DE boosted its holdings in Cameco by 5.3% during the first quarter. US Bancorp DE now owns 30,247 shares of the basic materials company’s stock worth $1,245,000 after purchasing an additional 1,519 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Cameco by 3.2% in the first quarter. PNC Financial Services Group Inc. now owns 158,237 shares of the basic materials company’s stock valued at $6,513,000 after purchasing an additional 4,837 shares in the last quarter. Manchester Capital Management LLC increased its stake in Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after buying an additional 300 shares during the last quarter. Finally, Wealthspire Advisors LLC acquired a new stake in Cameco in the 1st quarter valued at $259,000. 70.21% of the stock is currently owned by institutional investors.

About Cameco

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.