Investors Buy Large Volume of Cameco Call Options (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) saw unusually large options trading on Thursday. Stock investors purchased 384,705 call options on the company. This represents an increase of approximately 1,490% compared to the average volume of 24,198 call options.

Cameco Price Performance

Shares of Cameco stock opened at $91.49 on Friday. The firm has a market capitalization of $39.84 billion, a PE ratio of 106.38 and a beta of 1.01. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. Cameco has a 12 month low of $35.00 and a 12 month high of $110.15. The business’s 50-day moving average price is $91.18 and its 200-day moving average price is $82.86.

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

Cameco Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CCJ shares. Glj Research restated a “buy” rating and set a $99.74 target price on shares of Cameco in a research report on Wednesday, December 3rd. Royal Bank Of Canada cut their price objective on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating in a research report on Monday, September 22nd. UBS Group initiated coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price for the company. Finally, Raymond James Financial boosted their price target on shares of Cameco to $150.00 in a research note on Wednesday, October 29th. 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.com, Cameco currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.25.

Hedge Funds Weigh In On Cameco

Large investors have recently added to or reduced their stakes in the business. Financial Consulate Inc. bought a new stake in Cameco in the third quarter worth $25,000. Strategic Advocates LLC purchased a new position in shares of Cameco in the third quarter worth about $28,000. Armstrong Advisory Group Inc. lifted its stake in shares of Cameco by 110.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 182 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 325 shares during the last quarter. Finally, Trust Co. of Vermont boosted its holdings in Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 350 shares during the period. Hedge funds and other 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.