Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the recipient of unusually large options trading activity on Thursday. Traders purchased 384,705 call options on the stock. This is an increase of 1,490% compared to the typical volume of 24,198 call options.

Analysts Set New Price Targets

Several research firms have weighed in on CCJ. The Goldman Sachs Group raised their price target on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. CLSA assumed coverage on Cameco in a research report on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price objective for the company. Royal Bank Of Canada upped their target price on shares of Cameco from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, August 1st. National Bankshares reiterated an “outperform” rating on shares of Cameco in a report on Thursday. Finally, UBS Group set a $102.00 price objective on shares of Cameco in a research report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $102.61.

Cameco Trading Down 5.2%

Shares of CCJ stock opened at $90.25 on Friday. The firm’s 50-day simple moving average is $86.44 and its 200-day simple moving average is $72.82. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. Cameco has a 1-year low of $35.00 and a 1-year high of $110.15. The firm has a market cap of $39.30 billion, a P/E ratio of 103.74 and a beta of 0.98.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be given a dividend of $0.24 per share. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Monday, December 1st. This represents a yield of 25.0%. Cameco’s dividend payout ratio is currently 13.79%.

Institutional Investors Weigh In On Cameco

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

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.