Investors Purchase Large Volume of Call Options on Cameco (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 represents an increase of approximately 1,490% compared to the typical volume of 24,198 call options.

Cameco Stock Performance

CCJ traded down $5.10 during midday trading on Friday, reaching $110.21. The company had a trading volume of 4,313,334 shares, compared to its average volume of 4,446,701. Cameco has a 12-month low of $35.00 and a 12-month high of $135.24. The business has a 50-day moving average price of $116.36 and a two-hundred day moving average price of $97.40. The stock has a market cap of $48.00 billion, a PE ratio of 113.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47.

Cameco (NYSE:CCJ) (TSE:CCO) last issued 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 net margin of 17.00% and a return on equity of 9.35%. The company had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. During the same quarter last year, the business posted $0.36 EPS. Cameco’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several analyst reports. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Canadian Imperial Bank of Commerce lifted their target price on shares of Cameco to $202.00 in a research report on Monday. Royal Bank Of Canada boosted their target price on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Glj Research reaffirmed a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CCJ. Financial Consulate Inc. purchased a new stake in Cameco during the third quarter valued at about $25,000. Nisa Investment Advisors LLC bought a new stake in shares of Cameco in the fourth quarter valued at approximately $25,000. Founders Capital Management purchased a new stake in shares of Cameco during the 4th quarter valued at approximately $27,000. Strategic Advocates LLC bought a new position in Cameco in the 3rd quarter worth approximately $28,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in Cameco in the 4th quarter valued at approximately $28,000. Institutional investors own 70.21% of the company’s stock.

About Cameco

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.