Cameco Target of Unusually Large Options Trading (NYSE:CCJ)

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

Institutional Investors Weigh In On Cameco

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Cameco by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after acquiring an additional 200,871 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cameco by 2.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock valued at $593,967,000 after buying an additional 288,400 shares in the last quarter. Capital World Investors lifted its stake in Cameco by 1.6% in the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after buying an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Cameco by 3.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after buying an additional 202,157 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Cameco by 6.8% in the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after buying an additional 265,196 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several research reports. The Goldman Sachs Group upped their target price on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Bank of America upped their target price on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research report on Wednesday, June 26th. National Bank Financial raised Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Glj Research reissued a “buy” rating and issued a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Finally, Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $67.25.

Cameco Price Performance

Shares of CCJ opened at $40.33 on Friday. The business’s 50-day moving average is $42.79 and its two-hundred day moving average is $46.47. The company has a market capitalization of $17.55 billion, a P/E ratio of 103.41 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. Cameco has a fifty-two week low of $35.18 and a fifty-two week high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.14). The company had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. Cameco’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. Research analysts predict that Cameco will post 0.96 earnings per share for the current year.

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.