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

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the recipient of some unusual options trading activity 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.

Cameco Price Performance

Shares of NYSE:CCJ opened at $61.13 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco has a one year low of $35.43 and a one year high of $61.42. The company has a market capitalization of $26.60 billion, a PE ratio of 321.73 and a beta of 0.91. The stock has a fifty day moving average of $54.37 and a 200-day moving average of $49.20.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities analysts anticipate that Cameco will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.118 per share. This represents a dividend yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is currently 63.16%.

Institutional Trading of Cameco

A number of hedge funds have recently bought and sold shares of the stock. Glenmede Trust Co. NA boosted its holdings in Cameco by 2.1% during the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after purchasing an additional 191 shares during the last quarter. S.A. Mason LLC raised its stake in Cameco by 6.0% in the 3rd quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 206 shares in the last quarter. Silvia Mccoll Wealth Management LLC boosted its stake in shares of Cameco by 3.9% in the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock valued at $268,000 after buying an additional 210 shares during the period. EdgeRock Capital LLC lifted its position in shares of Cameco by 1.7% during the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock valued at $654,000 after acquiring an additional 224 shares during the period. Finally, LRI Investments LLC grew its stake in Cameco by 39.0% during the second quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after buying an additional 234 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Glj Research reiterated a “buy” rating and issued a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. Finally, Scotiabank reduced their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $66.56.

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.