Traders Purchase High Volume of Cameco Call Options (NYSE:CCJ)

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

Institutional Trading of Cameco

Institutional investors and hedge funds have recently modified their holdings of the business. Sierra Ocean LLC acquired a new position in Cameco during the fourth quarter worth about $25,000. Hurley Capital LLC acquired a new position in Cameco during the 4th quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Cameco in the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new stake in Cameco in the fourth quarter valued at approximately $33,000. Finally, Pingora Partners LLC bought a new stake in shares of Cameco during the third quarter worth $33,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Price Performance

CCJ stock opened at $42.71 on Friday. The company’s 50-day moving average price is $46.62 and its two-hundred day moving average price is $50.18. Cameco has a 12 month low of $35.43 and a 12 month high of $62.55. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a market cap of $18.59 billion, a P/E ratio of 152.53 and a beta of 1.04.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on CCJ. Glj Research boosted their price target on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Stifel Nicolaus initiated coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating on the stock. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Finally, StockNews.com raised shares of Cameco from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cameco currently has a consensus rating of “Buy” and an average target price of $73.64.

Cameco Company Profile

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.