Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Cameco Corporation (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 is an increase of approximately 1,490% compared to the average volume of 24,198 call options.

Cameco Stock Up 2.1%

Cameco stock opened at $88.11 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The firm has a market capitalization of $38.36 billion, a price-to-earnings ratio of 101.28 and a beta of 0.99. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $97.79. The stock’s fifty day moving average is $82.08 and its two-hundred day moving average is $68.95.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The firm had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same period in the previous year, the firm posted $0.14 EPS. The company’s quarterly revenue was up 46.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. Analysts predict that Cameco will post 1.27 EPS for the current fiscal year.

Institutional Trading of Cameco

Large investors have recently made changes to their positions in the stock. Manchester Capital Management LLC boosted its stake in shares of Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. Financial Consulate Inc. acquired a new stake in shares of Cameco during the third quarter valued at $25,000. Dagco Inc. acquired a new stake in shares of Cameco during the first quarter valued at $28,000. SVB Wealth LLC acquired a new stake in shares of Cameco during the first quarter valued at $29,000. Finally, Trust Co. of Vermont boosted its stake in shares of Cameco by 1,029.4% during the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CCJ. President Capital raised Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. Wall Street Zen raised Cameco from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. TD Securities reaffirmed a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a report on Friday, August 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $89.55.

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.