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

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the target 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.

Cameco Stock Up 1.9 %

NYSE:CCJ opened at $52.91 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 $23.03 billion, a PE ratio of 278.49 and a beta of 0.91. The company has a 50-day moving average of $55.49 and a 200 day moving average of $49.33. Cameco has a 1-year low of $35.43 and a 1-year high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). The company had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. Cameco’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. As a group, research analysts anticipate that Cameco will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.118 per share. This represents a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is currently 57.89%.

Institutional Trading of Cameco

Several large investors have recently added to or reduced their stakes in CCJ. Massachusetts Financial Services Co. MA acquired a new position in shares of Cameco in the second quarter worth about $73,125,000. CIBC Asset Management Inc raised its holdings in Cameco by 58.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after purchasing an additional 1,386,639 shares during the period. M&G PLC purchased a new position in Cameco during the third quarter worth approximately $66,227,000. Segra Capital Management LLC acquired a new stake in Cameco in the third quarter valued at approximately $53,013,000. Finally, Fred Alger Management LLC increased its position in shares of Cameco by 99.7% in the third quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock valued at $80,249,000 after buying an additional 839,077 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several recent research reports. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $66.56.

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.