Traders Buy Large Volume of Cameco Call Options (NYSE:CCJ)

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

Institutional Trading of Cameco

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sierra Ocean LLC acquired a new position in shares of Cameco during the 4th quarter worth approximately $25,000. Hurley Capital LLC purchased a new stake in shares of Cameco during the fourth quarter worth about $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Cameco during the 4th quarter worth about $28,000. Whipplewood Advisors LLC acquired a new position in shares of Cameco during the 4th quarter worth about $33,000. Finally, Compass Planning Associates Inc purchased a new stake in Cameco during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CCJ shares. Stifel Nicolaus initiated coverage on shares of Cameco in a report on Wednesday, March 12th. They set a "buy" rating for the company. Desjardins began coverage on Cameco in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Glj Research upped their price target on Cameco from $62.76 to $75.68 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Finally, StockNews.com lowered Cameco from a "hold" rating to a "sell" rating in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Cameco has an average rating of "Buy" and an average target price of $70.03.

Remove Ads

Cameco Stock Performance

Cameco stock traded up $1.02 during midday trading on Monday, reaching $41.86. The stock had a trading volume of 227,214 shares, compared to its average volume of 4,094,507. The firm has a market capitalization of $18.22 billion, a PE ratio of 148.34 and a beta of 1.04. 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's 50-day moving average price is $43.54 and its 200 day moving average price is $50.01. Cameco has a 12 month low of $35.00 and a 12 month high of $62.55.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released 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 firm had revenue of $845.54 million during the quarter, compared to analyst estimates of $1.09 billion. As a group, research analysts predict that Cameco will post 1.27 earnings per share for the current fiscal 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.