Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

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

Cameco Trading Down 4.1%

Shares of Cameco stock opened at $104.60 on Friday. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The company has a market capitalization of $45.56 billion, a P/E ratio of 107.84 and a beta of 0.98. The company has a fifty day moving average of $116.66 and a 200 day moving average of $99.55.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The firm had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. On average, sell-side analysts anticipate that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

Several large investors have recently bought and sold shares of the business. McAlvany Wealth Management LLC purchased a new stake in shares of Cameco in the fourth quarter valued at $812,000. Purpose Unlimited Inc. purchased a new position in shares of Cameco during the 4th quarter worth about $6,436,000. Rockefeller Capital Management L.P. grew its holdings in Cameco by 6.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 154,926 shares of the basic materials company’s stock valued at $14,174,000 after purchasing an additional 9,826 shares during the last quarter. World Investment Advisors purchased a new stake in Cameco in the 4th quarter worth about $455,000. Finally, ARP Global Capital Ltd purchased a new stake in Cameco in the 4th quarter worth about $14,438,000. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CCJ. Royal Bank Of Canada increased their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price target on shares of Cameco in a report on Wednesday, February 4th. Canadian Imperial Bank of Commerce lifted their price target on shares of Cameco to $202.00 in a research note on Monday, March 9th. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Finally, Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.