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

Cameco Co. (NYSE:CCJGet Free Report) (TSE:CCO) saw unusually large options trading on Thursday. Stock investors bought 384,705 call options on the stock. This is an increase of approximately 1,490% compared to the typical volume of 24,198 call options.

Cameco Stock Down 0.7 %

CCJ stock opened at $33.50 on Friday. The firm has a market cap of $14.52 billion, a PE ratio of 223.33, a PEG ratio of 0.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 6.64 and a current ratio of 7.75. The firm’s 50 day moving average price is $31.37 and its 200-day moving average price is $28.36. Cameco has a one year low of $21.02 and a one year high of $35.24.

Cameco (NYSE:CCJGet Free Report) (TSE:CCO) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.17). The business had revenue of $482.00 million during the quarter, compared to analyst estimates of $636.37 million. Cameco had a return on equity of 2.78% and a net margin of 4.67%. The business’s revenue was down 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. On average, equities research analysts anticipate that Cameco will post 0.88 EPS for the current year.

Analysts Set New Price Targets

CCJ has been the topic of a number of research analyst reports. TD Securities boosted their target price on Cameco from C$51.00 to C$55.00 and gave the stock an “action list buy” rating in a research report on Thursday. Raymond James increased their price objective on Cameco from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Thursday. Scotiabank dropped their price objective on Cameco from C$50.00 to C$49.00 in a research note on Wednesday, June 28th. Finally, lowered Cameco from a “hold” rating to a “sell” rating in a report on Monday, July 31st.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently made changes to their positions in CCJ. Clearview Wealth Advisors LLC acquired a new position in shares of Cameco in the 1st quarter valued at $25,000. Global Retirement Partners LLC raised its holdings in shares of Cameco by 291.3% during the first quarter. Global Retirement Partners LLC now owns 1,209 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 900 shares during the period. Crewe Advisors LLC increased its stake in Cameco by 1,175.8% in the 4th quarter. Crewe Advisors LLC now owns 1,263 shares of the basic materials company’s stock valued at $29,000 after buying an additional 1,164 shares during the period. Ahrens Investment Partners LLC bought a new stake in Cameco in the first quarter worth approximately $37,000. Finally, 1832 Asset Management L.P. boosted its holdings in shares of Cameco by 61.9% during the 1st quarter. 1832 Asset Management L.P. now owns 1,700 shares of the basic materials company’s stock worth $49,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 63.86% of the company’s stock.

About Cameco

(Get Free Report)

Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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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