Investors Purchase Large Volume of Call Options on Cameco (NYSE:CCJ)

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

Cameco Stock Performance

Shares of NYSE:CCJ opened at $42.71 on Friday. The firm’s 50 day simple moving average is $46.62 and its 200 day simple moving average is $50.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The company has a market capitalization of $18.59 billion, a price-to-earnings ratio of 152.53 and a beta of 1.04. Cameco has a fifty-two week low of $35.43 and a fifty-two week high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. As a group, sell-side analysts forecast that Cameco will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Stifel Nicolaus began coverage on Cameco in a report on Wednesday, March 12th. They issued a “buy” rating on the stock. StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. Stifel Canada upgraded Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Finally, Glj Research increased their price objective on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $73.64.

Institutional Trading of Cameco

A number of institutional investors have recently made changes to their positions in CCJ. Dantai Capital Ltd raised its holdings in Cameco by 44.2% during the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after acquiring an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC bought a new stake in shares of Cameco during the 4th quarter worth approximately $895,000. Whalen Wealth Management Inc. acquired a new stake in shares of Cameco in the 4th quarter valued at approximately $445,000. Sprott Inc. grew its stake in shares of Cameco by 44.5% in the fourth quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock valued at $5,750,000 after buying an additional 34,483 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in Cameco during the third quarter worth $5,305,000. Institutional investors 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.