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

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO was the recipient of some unusual options trading activity on Thursday. Traders acquired 384,705 call options on the stock. This is an increase of 1,490% compared to the average daily volume of 24,198 call options.

Wall Street Analysts Forecast Growth

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

Cameco Price Performance

Shares of NYSE CCJ traded down $0.64 during midday trading on Monday, hitting $41.19. The stock had a trading volume of 4,827,405 shares, compared to its average volume of 4,126,264. 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 stock has a 50 day simple moving average of $46.21 and a 200-day simple moving average of $50.38. The company has a market capitalization of $17.93 billion, a PE ratio of 147.09 and a beta of 1.04. Cameco has a 1 year low of $35.43 and a 1 year high of $62.55.

Cameco (NYSE:CCJ - Get Free Report) 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. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The company had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. On average, sell-side analysts expect that Cameco will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently bought and sold shares of CCJ. Wealth Enhancement Advisory Services LLC lifted its stake in Cameco by 29.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,275 shares of the basic materials company's stock worth $322,000 after purchasing an additional 1,439 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in Cameco during the fourth quarter worth approximately $4,839,000. Copia Wealth Management acquired a new position in Cameco during the fourth quarter worth $39,000. Polar Asset Management Partners Inc. grew its holdings 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 valued at $5,055,000 after buying an additional 75,876 shares in the last quarter. Finally, Hall Capital Management Co. Inc. acquired a new stake in shares of Cameco in the 4th quarter worth $204,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.