Investors Buy High Volume of Cameco Call Options (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 stock. This is an increase of 1,490% compared to the typical daily volume of 24,198 call options.

Cameco Stock Performance

CCJ opened at $41.75 on Friday. The business’s 50 day moving average is $48.01 and its 200-day moving average is $49.91. The stock has a market cap of $18.17 billion, a PE ratio of 149.09 and a beta of 1.04. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. Cameco has a twelve month low of $35.43 and a twelve month high of $62.55.

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

Analyst Upgrades and Downgrades

CCJ has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $90.00 target price on shares of Cameco in a research note on Tuesday, March 4th. Glj Research raised their target price on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Stifel Nicolaus initiated coverage on shares of Cameco in a research report on Wednesday. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $73.64.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sierra Ocean LLC acquired a new stake in Cameco during the 4th quarter valued at $25,000. Hurley Capital LLC acquired a new stake in Cameco during the 4th quarter valued at $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Cameco during the 4th quarter valued at $28,000. Pingora Partners LLC acquired a new stake in Cameco during the 3rd quarter valued at $33,000. Finally, Whipplewood Advisors LLC acquired a new stake in Cameco during the 4th quarter valued at $33,000. Institutional investors own 70.21% of the company’s stock.

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.