Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Key Points

• Cameco Corporation (NYSE: CCJ) experienced a significant surge in call options trading, with 384,705 options traded, marking an increase of approximately 1,490% compared to the typical daily volume.
• Analysts continue to show confidence in Cameco, with a consensus rating of "Buy" and a target price of $89.55, including several institutions upgrading their ratings recently.
• In its latest earnings report, Cameco reported $0.51 EPS, exceeding expectations, while its revenue rose 46.7% year-over-year, indicating strong business performance despite having a revenue below analyst forecasts.

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

Analysts Set New Price Targets

CCJ has been the topic of several recent research reports. TD Securities restated a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a research report on Friday, August 29th. National Bankshares restated an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. Weiss Ratings restated a "hold (c+)" rating on shares of Cameco in a research report on Wednesday, October 8th. Finally, CLSA assumed coverage on Cameco in a research report on Tuesday, September 9th. They issued an "outperform" rating and a $102.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $89.55.

Cameco Stock Performance

NYSE CCJ opened at $86.23 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $81.83 and its two-hundred day moving average is $68.59. Cameco has a 12-month low of $35.00 and a 12-month high of $97.79. The stock has a market capitalization of $37.54 billion, a price-to-earnings ratio of 99.11 and a beta of 0.99.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company had revenue of $467.72 million for the quarter, compared to analysts' expectations of $819.79 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The firm's quarterly revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. Research analysts expect that Cameco will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Cameco

Several institutional investors have recently modified their holdings of the company. Hager Investment Management Services LLC boosted its stake in shares of Cameco by 0.4% during the 2nd quarter. Hager Investment Management Services LLC now owns 30,628 shares of the basic materials company's stock worth $2,274,000 after acquiring an additional 127 shares in the last quarter. Lee Johnson Capital Management LLC boosted its stake in shares of Cameco by 1.2% during the 3rd quarter. Lee Johnson Capital Management LLC now owns 10,770 shares of the basic materials company's stock worth $903,000 after acquiring an additional 127 shares in the last quarter. Wealth Alliance LLC boosted its stake in shares of Cameco by 1.6% during the 2nd quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company's stock worth $745,000 after acquiring an additional 154 shares in the last quarter. Colonial Trust Advisors boosted its stake in shares of Cameco by 0.3% during the 2nd quarter. Colonial Trust Advisors now owns 59,753 shares of the basic materials company's stock worth $4,435,000 after acquiring an additional 172 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its stake in Cameco by 3.7% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,967 shares of the basic materials company's stock valued at $417,000 after buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company's stock.

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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