Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO was the recipient of some unusual options trading activity on Thursday. Stock investors purchased 384,705 call options on the stock. This represents an increase of 1,490% compared to the average volume of 24,198 call options.
Hedge Funds Weigh In On Cameco
Several hedge funds and other institutional investors have recently made changes to their positions in CCJ. William Blair Investment Management LLC increased its position in Cameco by 6.8% during the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company's stock worth $204,672,000 after purchasing an additional 265,196 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Cameco by 4.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company's stock valued at $192,622,000 after purchasing an additional 176,183 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Cameco by 58.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company's stock valued at $181,382,000 after purchasing an additional 1,386,639 shares during the last quarter. Cibc World Market Inc. lifted its stake in Cameco by 3.7% in the 2nd quarter. Cibc World Market Inc. now owns 3,272,805 shares of the basic materials company's stock valued at $161,022,000 after purchasing an additional 117,722 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Cameco by 16.9% in the 2nd quarter. National Bank of Canada FI now owns 2,634,371 shares of the basic materials company's stock valued at $129,540,000 after purchasing an additional 381,176 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.
Cameco Stock Performance
Shares of CCJ stock traded down $0.09 during midday trading on Friday, hitting $61.05. 3,482,332 shares of the company were exchanged, compared to its average volume of 4,408,795. The firm has a market capitalization of $26.57 billion, a P/E ratio of 321.32 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The firm's 50 day moving average price is $54.64 and its two-hundred day moving average price is $49.25. Cameco has a 52 week low of $35.43 and a 52 week high of $62.55.
Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). The company had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business's quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. As a group, equities research analysts anticipate that Cameco will post 0.51 earnings per share for the current year.
Cameco Increases Dividend
The firm also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a $0.118 dividend. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. This is an increase from Cameco's previous annual dividend of $0.09. Cameco's payout ratio is currently 57.89%.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on CCJ shares. Scotiabank lowered their price target on shares of Cameco from $81.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, August 19th. National Bank Financial upgraded shares of Cameco to a "strong-buy" rating in a research note on Tuesday, September 3rd. Glj Research reissued a "buy" rating and issued a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Finally, Janney Montgomery Scott raised shares of Cameco to a "strong-buy" rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $66.56.
Read Our Latest Research Report on CCJ
About Cameco
(
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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.
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