Stock Traders Buy High Volume of Cameco Call Options (NYSE:CCJ)

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

Cameco Stock Down 0.4%

Shares of NYSE:CCJ opened at $133.59 on Friday. The company has a market capitalization of $58.17 billion, a price-to-earnings ratio of 155.34 and a beta of 1.01. The company has a 50 day moving average of $99.89 and a two-hundred day moving average of $88.82. Cameco has a 52-week low of $35.00 and a 52-week high of $135.24. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15.

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

Cameco Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Scotiabank reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. UBS Group assumed coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Glj Research reissued a “buy” rating and issued a $99.74 target price on shares of Cameco in a research note on Wednesday, December 3rd. Finally, Sanford C. Bernstein lifted their target price on shares of Cameco from $100.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and a consensus target price of $121.68.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Cameco in the 2nd quarter worth approximately $341,736,000. TD Asset Management Inc boosted its holdings in Cameco by 116.7% in the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after purchasing an additional 2,489,207 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after purchasing an additional 2,071,373 shares during the period. Van ECK Associates Corp increased its stake in Cameco by 43.3% during the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after purchasing an additional 1,644,061 shares during the last quarter. Finally, Mizuho Markets Cayman LP acquired a new stake in shares of Cameco during the third quarter worth $128,370,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Company Profile

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.