Cameco Sees Unusually High Options Volume (NYSE:CCJ)

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

Cameco Stock Performance

Shares of NYSE CCJ traded up $2.11 during midday trading on Friday, hitting $51.62. 6,233,489 shares of the company's stock traded hands, compared to its average volume of 3,755,453. The firm has a fifty day moving average of $54.53 and a 200 day moving average of $49.25. Cameco has a 1 year low of $35.43 and a 1 year high of $62.55. 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 stock has a market capitalization of $22.47 billion, a price-to-earnings ratio of 271.69 and a beta of 0.95.

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 analysts' consensus estimates of $0.39 by ($0.40). The business had revenue of $721.00 million for the quarter, compared to analysts' expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm's quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. On average, analysts forecast that Cameco will post 0.47 earnings per share for the current year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a $0.118 dividend. This is a boost from Cameco's previous annual dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a yield of 0.22%. Cameco's dividend payout ratio is presently 63.16%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CCJ. Whalen Wealth Management Inc. bought a new stake in Cameco during the 4th quarter worth approximately $445,000. MinichMacGregor Wealth Management LLC raised its position in shares of Cameco by 19.2% during the 4th quarter. MinichMacGregor Wealth Management LLC now owns 6,068 shares of the basic materials company's stock valued at $312,000 after purchasing an additional 976 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Cameco by 98.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 91,767 shares of the basic materials company's stock valued at $4,716,000 after buying an additional 45,549 shares in the last quarter. Dakota Wealth Management boosted its holdings in Cameco by 1.3% in the 4th quarter. Dakota Wealth Management now owns 33,725 shares of the basic materials company's stock worth $1,733,000 after buying an additional 437 shares during the period. Finally, Simon Quick Advisors LLC purchased a new stake in Cameco in the 4th quarter worth $212,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott upgraded shares of Cameco to a "strong-buy" rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $66.56.

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.