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

Key Points

• Investors recently purchased a significant volume of 384,705 call options on Cameco Corporation, marking a 1,490% increase compared to its average volume.
• Cameco's stock rose by 3.1% to open at $85.64, with a market capitalization of $37.29 billion.
• The company reported $0.51 earnings per share (EPS) for the last quarter, surpassing expectations, while setting its financial guidance for FY 2025.

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

Cameco Stock Up 3.1%

Shares of NYSE CCJ opened at $85.64 on Friday. The firm has a market capitalization of $37.29 billion, a PE ratio of 98.43 and a beta of 1.04. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. Cameco has a 1 year low of $35.00 and a 1 year high of $89.13. The firm's 50-day moving average is $78.04 and its 200-day moving average is $62.49.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.22. The company had revenue of $467.72 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. Cameco has set its FY 2025 guidance at EPS. Equities analysts expect that Cameco will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CCJ shares. National Bankshares reaffirmed an "outperform" rating on shares of Cameco in a research report on Friday, August 22nd. President Capital raised shares of Cameco from a "neutral" rating to a "buy" rating in a report on Monday. The Goldman Sachs Group upped their target price on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Royal Bank Of Canada increased their price target on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, UBS Group set a $102.00 price objective on shares of Cameco in a research note on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Cameco has a consensus rating of "Buy" and a consensus price target of $89.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Trust Co. of Vermont raised its holdings in Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock worth $29,000 after buying an additional 350 shares during the period. Hilltop National Bank acquired a new position in Cameco during the second quarter worth $30,000. Atticus Wealth Management LLC bought a new position in Cameco during the second quarter worth $34,000. VSM Wealth Advisory LLC bought a new position in Cameco during the second quarter worth $35,000. Finally, Creative Financial Designs Inc. ADV boosted its position in Cameco by 936.2% during the second quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the basic materials company's stock worth $36,000 after purchasing an additional 440 shares during the period. 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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