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

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

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of analyst reports. StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Stifel Nicolaus started coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a “buy” rating on the stock. Sanford C. Bernstein started coverage on shares of Cameco in a research report on Tuesday, April 1st. They issued an “outperform” rating and a $52.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $90.00 price target on shares of Cameco in a research note on Tuesday, March 4th. Finally, Desjardins assumed coverage on Cameco in a report on Friday, April 4th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $70.03.

Cameco Stock Performance

CCJ stock opened at $50.76 on Friday. Cameco has a one year low of $35.00 and a one year high of $62.55. The firm has a market cap of $22.10 billion, a price-to-earnings ratio of 181.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The firm has a 50-day simple moving average of $42.74 and a two-hundred day simple moving average of $48.97.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 5.39% and a return on equity of 4.34%. Cameco’s revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. On average, equities analysts forecast that Cameco will post 1.27 EPS for the current fiscal year.

Institutional Trading of Cameco

Large investors have recently added to or reduced their stakes in the stock. Sierra Ocean LLC purchased a new stake in shares of Cameco in the fourth quarter valued at about $25,000. Hurley Capital LLC purchased a new stake in shares of Cameco in the 4th quarter valued at approximately $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Cameco during the 4th quarter worth approximately $28,000. Manchester Capital Management LLC grew its stake in shares of Cameco by 100.0% in the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after buying an additional 300 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in Cameco during the 4th quarter worth about $33,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.