Cameco Target of Unusually Large Options Trading (NYSE:CCJ)

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

Analyst Ratings Changes

CCJ has been the subject of several research analyst reports. Zacks Research upgraded shares of Cameco from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Scotiabank reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. National Bank Financial reissued an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. UBS Group assumed coverage on Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective on the stock. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $147.00 target price on shares of Cameco in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $131.39.

Cameco Trading Down 2.4%

NYSE CCJ opened at $116.28 on Friday. The company has a market cap of $50.64 billion, a price-to-earnings ratio of 135.21 and a beta of 0.99. Cameco has a twelve month low of $35.00 and a twelve month 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. The business’s fifty day moving average is $105.99 and its 200 day moving average is $91.62.

Institutional Trading of Cameco

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bison Wealth LLC increased its position in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC boosted its position in Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after acquiring an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 64,512 shares during the period. Finally, Callan Family Office LLC bought a new position in shares of Cameco in the 2nd quarter worth about $429,000. 70.21% of the stock is currently owned by institutional investors.

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.