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

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

Cameco Price Performance

Cameco stock opened at $87.58 on Friday. The business’s fifty day moving average is $90.37 and its two-hundred day moving average is $80.82. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. Cameco has a 52 week low of $35.00 and a 52 week high of $110.15. The firm has a market cap of $38.13 billion, a P/E ratio of 101.84 and a beta of 1.07.

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

Cameco Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CCJ shares. Raymond James Financial raised their price objective on Cameco to $150.00 in a research note on Wednesday, October 29th. The Goldman Sachs Group raised their target price on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada dropped their target price on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. UBS Group began coverage on shares of Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 price target for the company. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Cameco in a research note on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $117.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Consulate Inc. bought a new position in Cameco during the third quarter worth about $25,000. Strategic Advocates LLC bought a new position in shares of Cameco during the 3rd quarter valued at about $28,000. SVB Wealth LLC acquired a new position in shares of Cameco in the 1st quarter valued at approximately $29,000. Trust Co. of Vermont increased its stake 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 worth $29,000 after purchasing an additional 350 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its holdings in Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after buying an additional 182 shares during the period. Institutional investors own 70.21% of the company’s stock.

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.