Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Stifel Nicolaus assumed coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 price objective on shares of Cameco in a research report on Tuesday, March 4th. Desjardins assumed coverage on Cameco in a research note on Friday, April 4th. They issued a “buy” rating for the company. Finally, Sanford C. Bernstein started coverage on Cameco in a research report on Tuesday, April 1st. They set an “outperform” rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $70.03.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CCJ. Sanctuary Advisors LLC boosted its stake in shares of Cameco by 97.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,969 shares of the basic materials company’s stock worth $667,000 after buying an additional 6,901 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Cameco during the third quarter worth about $38,000. Tidal Investments LLC boosted its position in Cameco by 9.2% during the third quarter. Tidal Investments LLC now owns 25,396 shares of the basic materials company’s stock valued at $1,213,000 after purchasing an additional 2,142 shares during the last quarter. Synovus Financial Corp grew its stake in Cameco by 12.2% in the third quarter. Synovus Financial Corp now owns 128,137 shares of the basic materials company’s stock valued at $6,120,000 after purchasing an additional 13,901 shares in the last quarter. Finally, Dantai Capital Ltd increased its position in shares of Cameco by 44.2% during the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after purchasing an additional 17,560 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

Shares of Cameco stock opened at $44.01 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The firm has a market cap of $19.16 billion, a price-to-earnings ratio of 157.18 and a beta of 1.04. Cameco has a one year low of $35.00 and a one year high of $62.55. The stock’s 50-day moving average is $42.05 and its 200-day moving average is $49.44.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The firm had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. Equities analysts predict that Cameco will post 1.27 earnings per share for the current fiscal year.

Cameco Company Profile

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.