Traders Purchase High Volume of Call Options on Cameco (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) saw some unusual options trading on Thursday. Traders bought 384,705 call options on the stock. This is an increase of approximately 1,490% compared to the typical daily volume of 24,198 call options.

Cameco Stock Down 1.3%

Shares of NYSE CCJ opened at $118.15 on Friday. The stock has a market capitalization of $51.46 billion, a P/E ratio of 121.80 and a beta of 0.99. The stock’s fifty day moving average is $111.35 and its 200 day moving average is $94.46. Cameco has a 52 week low of $35.00 and a 52 week high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same period in the prior year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts forecast that Cameco will post 1.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 target price on shares of Cameco in a research report on Thursday, February 5th. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday. Finally, UBS Group initiated coverage on shares of Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.03.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CCJ. Bison Wealth LLC increased its position in Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after purchasing an additional 2,975 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after buying an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cameco by 11.9% in 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 valued at $24,895,000 after acquiring an additional 64,512 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Cameco during the 2nd quarter valued at $267,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.