Investors Buy High Volume of Cameco Call Options (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 384,705 call options on the company. This represents an increase of 1,490% compared to the typical volume of 24,198 call options.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Cameco in a report on Wednesday. They issued a “buy” rating for the company. Glj Research upped their price objective on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Finally, StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $73.64.

Cameco Stock Down 2.0 %

CCJ stock opened at $41.75 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. Cameco has a 52-week low of $35.43 and a 52-week high of $62.55. The company has a 50-day moving average of $48.01 and a two-hundred day moving average of $49.91. The stock has a market capitalization of $18.17 billion, a price-to-earnings ratio of 149.09 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 analysts’ consensus estimates of $0.26. The business had revenue of $845.54 million during the quarter, compared to analyst estimates of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. As a group, equities research analysts anticipate that Cameco will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Dantai Capital Ltd raised its position in Cameco by 44.2% in the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after purchasing an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC acquired a new position in Cameco in the fourth quarter worth about $895,000. Whalen Wealth Management Inc. acquired a new position in Cameco in the fourth quarter worth about $445,000. Sprott Inc. raised its position in Cameco by 44.5% in the fourth quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock worth $5,750,000 after purchasing an additional 34,483 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in Cameco in the third quarter worth about $5,305,000. 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.