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

Key Points

• Cameco Corporation has experienced an unprecedented 1,490% increase in call options trading, with 384,705 options purchased compared to an average of 24,198.
• Institutional investors and hedge funds currently own 70.21% of Cameco's stock, with significant stakes acquired by Norges Bank and Canada Pension Plan Investment Board.
• Cameco reported a 46.7% increase in revenue year-over-year for its latest quarter, achieving earnings of $0.51 per share, exceeding analyst estimates of $0.29.

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

Institutional Trading of Cameco

A number of hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Cameco during the second quarter worth $341,736,000. Alliancebernstein L.P. raised its stake in Cameco by 39.3% in 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. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company's stock worth $524,988,000 after purchasing an additional 2,071,373 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Cameco by 215.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company's stock worth $83,636,000 after purchasing an additional 1,387,797 shares in the last quarter. Finally, Temasek Holdings Private Ltd acquired a new position in Cameco in the 1st quarter valued at $55,513,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Trading Up 0.7%

Cameco stock opened at $86.81 on Friday. The firm has a 50-day moving average of $79.40 and a 200-day moving average of $65.36. Cameco has a one year low of $35.00 and a one year high of $89.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The company has a market cap of $37.80 billion, a price-to-earnings ratio of 99.78 and a beta of 0.99.

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

Analysts Set New Price Targets

CCJ has been the subject of a number of research analyst reports. Glj Research reissued a "buy" rating and issued a $75.27 target price on shares of Cameco in a research note on Thursday, June 12th. Wall Street Zen upgraded Cameco from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. TD Securities reiterated a "buy" rating on shares of Cameco in a report on Tuesday, August 5th. National Bankshares reiterated an "outperform" rating on shares of Cameco in a report on Friday, August 22nd. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Cameco in a report on Friday, August 29th. 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 stock. According to data from MarketBeat.com, Cameco currently has an average rating of "Buy" and a consensus price target of $89.55.

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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