Investors Buy 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 bought 384,705 call options on the stock. This represents an increase of approximately 1,490% compared to the average daily volume of 24,198 call options.

Cameco Stock Up 1.3 %

CCJ opened at $44.04 on Friday. 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 business’s fifty day simple moving average is $49.87 and its 200 day simple moving average is $49.84. Cameco has a 52 week low of $35.43 and a 52 week high of $62.55. The stock has a market cap of $19.17 billion, a PE ratio of 157.27 and a beta of 0.94.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $845.54 million for 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, research analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

Hedge funds have recently made changes to their positions in the business. Polar Asset Management Partners Inc. raised its position in Cameco by 337.2% in the 4th quarter. Polar Asset Management Partners Inc. now owns 98,376 shares of the basic materials company’s stock worth $5,055,000 after purchasing an additional 75,876 shares during the period. Hall Capital Management Co. Inc. purchased a new position in shares of Cameco in the fourth quarter worth about $204,000. Ameriflex Group Inc. bought a new stake in shares of Cameco in the 4th quarter valued at about $40,000. Jupiter Wealth Management LLC purchased a new stake in Cameco during the 4th quarter valued at about $514,000. Finally, Formidable Asset Management LLC boosted its holdings in Cameco by 13.4% during the 4th quarter. Formidable Asset Management LLC now owns 18,756 shares of the basic materials company’s stock valued at $964,000 after acquiring an additional 2,215 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $66.56.

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.