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

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the target of unusually large options trading on Thursday. Stock investors acquired 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.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Sierra Ocean LLC bought a new position in Cameco in the 4th quarter valued at about $25,000. Hurley Capital LLC purchased a new stake in shares of Cameco in the fourth quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Cameco in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC purchased a new position in shares of Cameco during the fourth quarter valued at approximately $33,000. Finally, Pingora Partners LLC bought a new stake in Cameco during the third quarter worth $33,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $66.56.

Cameco Stock Performance

Shares of Cameco stock opened at $44.04 on Friday. The business has a 50-day simple moving average of $49.87 and a 200 day simple moving average of $49.84. The firm has a market capitalization of $19.17 billion, a price-to-earnings ratio of 157.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. Cameco has a one year low of $35.43 and a one year high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The company had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. On average, research analysts anticipate that Cameco will post 1.27 earnings per share for the current fiscal 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.