Cameco Target of Unusually High Options Trading (NYSE:CCJ)

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

Cameco Stock Performance

Shares of CCJ stock opened at $69.67 on Friday. The firm has a 50 day moving average of $53.17 and a 200-day moving average of $49.87. The company has a market cap of $30.33 billion, a price-to-earnings ratio of 174.17 and a beta of 0.97. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. Cameco has a 52 week low of $35.00 and a 52 week high of $71.31.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Cameco had a return on equity of 4.47% and a net margin of 7.50%. The company had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. During the same quarter in the previous year, the business posted $0.13 earnings per share. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities analysts forecast that Cameco will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on CCJ. Stifel Canada upgraded Cameco to a "strong-buy" rating in a report on Wednesday, March 12th. UBS Group reiterated a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Royal Bank Of Canada reissued an "outperform" rating and issued a $90.00 price target on shares of Cameco in a research note on Tuesday, March 4th. Glj Research reaffirmed a "buy" rating and issued a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Finally, Sanford C. Bernstein set a $70.00 target price on Cameco and gave the company an "outperform" rating in a report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $75.63.

Institutional Trading of Cameco

Large investors have recently made changes to their positions in the company. FMR LLC grew its stake in Cameco by 8.7% in the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock valued at $1,163,942,000 after acquiring an additional 1,811,876 shares during the period. Vanguard Group Inc. lifted its position in Cameco by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company's stock valued at $703,295,000 after acquiring an additional 300,088 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cameco by 1.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company's stock valued at $865,729,000 after purchasing an additional 190,337 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Cameco by 39.3% during the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company's stock worth $578,226,000 after purchasing an additional 3,959,837 shares in the last quarter. Finally, AGF Management Ltd. increased its holdings in Cameco by 19.0% during the 1st quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock worth $166,206,000 after purchasing an additional 644,413 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Company Profile

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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