Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) saw some unusual options trading on Thursday. Traders acquired 384,705 call options on the company. This represents an increase of 1,490% compared to the typical daily volume of 24,198 call options.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CCJ shares. Bank of America lifted their price target on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group boosted their target price on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, StockNews.com downgraded Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.70.

Cameco Stock Up 1.7 %

Shares of NYSE:CCJ opened at $50.56 on Friday. The company has a market capitalization of $22.00 billion, a P/E ratio of 129.64 and a beta of 0.91. The stock’s fifty day simple moving average is $51.55 and its 200-day simple moving average is $47.15. Cameco has a 52-week low of $29.17 and a 52-week high of $56.24. The company has a quick ratio of 0.69, a current ratio of 1.42 and a debt-to-equity ratio of 0.17.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.23). The firm had revenue of $470.29 million for the quarter. Cameco had a return on equity of 4.60% and a net margin of 9.28%. As a group, equities research analysts forecast that Cameco will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Venturi Wealth Management LLC increased its stake in Cameco by 235.3% during the 1st quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock worth $25,000 after buying an additional 400 shares during the period. LRI Investments LLC purchased a new stake in shares of Cameco during the first quarter worth about $26,000. Principal Securities Inc. acquired a new position in shares of Cameco in the fourth quarter worth about $29,000. Versant Capital Management Inc acquired a new position in shares of Cameco in the fourth quarter worth about $34,000. Finally, Sandy Spring Bank purchased a new position in Cameco in the fourth quarter valued at about $43,000. 70.21% of the stock is owned by institutional investors and hedge funds.

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.