Cameco Sees Unusually High Options Volume (NYSE:CCJ)

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

Cameco Trading Down 1.3 %

CCJ opened at $42.71 on Friday. Cameco has a 1-year low of $35.43 and a 1-year high of $62.55. The stock has a market capitalization of $18.59 billion, a PE ratio of 152.53 and a beta of 1.04. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $46.62 and a two-hundred day moving average price of $50.18.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. As a group, equities analysts anticipate that Cameco will post 1.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Cameco

Hedge funds have recently added to or reduced their stakes in the stock. Sierra Ocean LLC acquired a new position in shares of Cameco in the 4th quarter valued at $25,000. Hurley Capital LLC bought a new position in Cameco during the fourth quarter worth about $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Cameco in the fourth quarter valued at about $28,000. Pingora Partners LLC bought a new stake in shares of Cameco in the third quarter worth about $33,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Cameco during the 4th quarter valued at about $33,000. Institutional investors and hedge funds 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.