Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CCJ shares. Glj Research lifted their price target on Cameco from $62.76 to $75.68 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Desjardins initiated coverage on Cameco in a report on Friday, April 4th. They set a "buy" rating on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a report on Wednesday, May 14th. Sanford C. Bernstein started coverage on Cameco in a research report on Tuesday, April 1st. They set an "outperform" rating and a $52.00 price objective for the company. Finally, Stifel Nicolaus assumed coverage on Cameco in a research report on Wednesday, March 12th. They set a "buy" rating for the company. One analyst has rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $70.53.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCJ. Park Avenue Securities LLC boosted its stake in Cameco by 12.0% during the fourth quarter. Park Avenue Securities LLC now owns 5,573 shares of the basic materials company's stock valued at $286,000 after buying an additional 598 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Cameco by 48.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company's stock valued at $42,000 after buying an additional 267 shares during the last quarter. Ballentine Partners LLC boosted its stake in Cameco by 22.3% during the fourth quarter. Ballentine Partners LLC now owns 6,141 shares of the basic materials company's stock valued at $316,000 after buying an additional 1,118 shares during the last quarter. Roberts Wealth Advisors LLC bought a new position in Cameco during the fourth quarter valued at approximately $895,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. bought a new position in Cameco during the fourth quarter valued at approximately $617,000. 70.21% of the stock is owned by institutional investors.

Cameco Stock Performance

NYSE:CCJ opened at $52.79 on Friday. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. Cameco has a 12-month low of $35.00 and a 12-month high of $62.55. The stock has a 50-day moving average price of $44.50 and a 200 day moving average price of $48.87. The stock has a market capitalization of $22.98 billion, a P/E ratio of 188.54 and a beta of 0.89.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a return on equity of 4.34% and a net margin of 5.39%. The business had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. During the same quarter in the prior year, the business posted $0.13 EPS. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. Equities research analysts forecast that Cameco will post 1.27 EPS 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.

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