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

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the target of unusually large options trading on Thursday. Investors acquired 384,705 call options on the stock. This represents an increase of 1,490% compared to the average daily volume of 24,198 call options.

Hedge Funds Weigh In On Cameco

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Cameco in the 4th quarter worth about $99,511,000. Massachusetts Financial Services Co. MA bought a new stake in Cameco in the second quarter worth approximately $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Cameco in the first quarter valued at approximately $31,131,000. King Luther Capital Management Corp bought a new position in shares of Cameco during the 2nd quarter worth approximately $32,740,000. Finally, Trexquant Investment LP acquired a new position in shares of Cameco during the 4th quarter valued at $19,955,000. Institutional investors own 70.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Scotiabank decreased their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Bank of America raised their target price on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research report on Wednesday, June 26th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Finally, The Goldman Sachs Group lifted their price target on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $67.25.

Cameco Stock Up 1.8 %

Shares of NYSE:CCJ opened at $40.71 on Friday. The business has a fifty day simple moving average of $42.98 and a 200 day simple moving average of $46.47. Cameco has a 12-month low of $35.18 and a 12-month high of $56.24. The firm has a market cap of $17.72 billion, a P/E ratio of 104.38 and a beta of 0.90. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company had revenue of $598.00 million during the quarter, compared to the consensus estimate of $756.00 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The business’s revenue was up 24.1% on a year-over-year basis. Analysts predict that Cameco will post 0.96 earnings per share 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.