Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the recipient of some unusual options trading on Thursday. Stock traders 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.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CCJ shares. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. Bank of America boosted their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, The Goldman Sachs Group upped their price objective on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.70.

Institutional Investors Weigh In On Cameco

Hedge funds have recently made changes to their positions in the business. Morgan Stanley raised its position in Cameco by 5.8% during the 3rd quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock worth $307,300,000 after buying an additional 428,310 shares during the last quarter. Foster Victor Wealth Advisors LLC purchased a new stake in Cameco during the fourth quarter worth $3,956,000. Financial Insights Inc. acquired a new position in Cameco during the third quarter worth about $1,942,000. Vanguard Group Inc. grew its holdings in Cameco by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 15,548,514 shares of the basic materials company’s stock valued at $616,343,000 after buying an additional 236,212 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Cameco by 6.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,422,754 shares of the basic materials company’s stock worth $581,558,000 after buying an additional 869,404 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Up 1.7 %

CCJ opened at $50.56 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.69 and a current ratio of 1.42. Cameco has a one year low of $29.17 and a one year high of $56.24. The business’s 50-day simple moving average is $51.55 and its 200-day simple moving average is $47.15. The stock has a market capitalization of $22.00 billion, a P/E ratio of 129.64 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.23). The business had revenue of $470.29 million during the quarter. Cameco had a net margin of 9.28% and a return on equity of 4.60%. Analysts anticipate that Cameco will post 1.35 EPS for the current year.

About Cameco

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.