Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

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

Hedge Funds Weigh In On Cameco

A number of large investors have recently modified their holdings of the company. Bison Wealth LLC increased its stake in Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares in the last quarter. AQR Capital Management LLC raised its holdings in Cameco by 16.6% during the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cameco by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares in the last quarter. Finally, AE Wealth Management LLC acquired a new position in shares of Cameco during the second quarter valued at about $406,000. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Glj Research restated a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $147.00 target price on shares of Cameco in a report on Thursday, February 5th. The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. Canadian Imperial Bank of Commerce increased their price target on Cameco to $202.00 in a report on Monday, March 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Stock Performance

Shares of Cameco stock opened at $107.92 on Friday. The business has a 50-day simple moving average of $116.55 and a 200 day simple moving average of $97.63. Cameco has a one year low of $35.00 and a one year high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The firm has a market capitalization of $47.00 billion, a price-to-earnings ratio of 111.26 and a beta of 0.98.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts anticipate that Cameco will post 1.27 earnings per share for the current fiscal year.

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.