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

Key Points

• Unusual options activity: Traders bought 384,705 call options on Cameco in one day — about a 1,490% increase versus the average volume — indicating heavy bullish positioning or hedging interest.
• Fundamentals and backing remain constructive: Cameco beat Q1 estimates (EPS $0.34 vs. $0.29; revenue $607.5M), saw multiple analyst target raises (e.g., Scotiabank $175, Stifel C$180) and sizable institutional buying (Norges Bank, TD, Marshall Wace), supporting a medium-to-long-term bullish outlook despite a recent ~4.1% pullback.

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

Cameco News Roundup

Here are the key news stories impacting Cameco this week:

• Positive Sentiment: Analysts remain constructive: several coverage notes flagged Cameco as a top energy/nuclear idea, reinforcing demand expectations for uranium and nuclear services. Read More.
• Positive Sentiment: Stifel Canada reaffirmed a Buy rating and kept its target (C$180), signaling continued institutional support after Q1 results. Read More.
• Positive Sentiment: Bay Street backing: Scotiabank lifted its Cameco price target to $175 (cited optimism around the accelerating nuclear cycle). Read More.
• Positive Sentiment: Bullish commentary and analyst call transcripts highlight strong Q1 results, improved margins and structural demand for uranium — supportive for medium-to-long-term earnings. Read More. Read More.
• Neutral Sentiment: Cameco elected nine directors at its May 7 annual meeting — routine governance update with no immediate operational impact. Read More.
• Neutral Sentiment: Company investor/shareholder/analyst call prepared remarks and transcripts were published; useful for detail on production plans and contract cadence but contained no surprise guidance changes. Read More.
• Neutral Sentiment: Coverage pieces explaining why CCJ is trending summarize the same mix of fundamentals and momentum; helpful for context but not market-moving by themselves. Read More.
• Negative Sentiment: Sector profit-taking: nuclear peers saw sharp moves (big multi-week rallies followed by a pullback), and Cameco slipped amid that rotation — short-term selling pressure after an “explosive” rally. Read More.
• Negative Sentiment: Scotiabank trimmed its FY2027 EPS estimate modestly (from $1.47 to $1.37) — a small downward revision that could temper near-term sentiment despite the bank’s Outperform stance and higher price target.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CCJ. Norges Bank purchased a new position in shares of Cameco during the 4th quarter valued at $443,265,000. TD Asset Management Inc grew its position in shares of Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company's stock valued at $388,068,000 after purchasing an additional 2,489,207 shares in the last quarter. Marshall Wace LLP grew its position in shares of Cameco by 7,481.3% during the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company's stock valued at $160,343,000 after purchasing an additional 1,729,454 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Cameco by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company's stock valued at $456,530,000 after purchasing an additional 1,644,061 shares in the last quarter. Finally, Mizuho Markets Cayman LP purchased a new position in shares of Cameco during the 3rd quarter valued at $128,370,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Down 4.1%

Cameco stock opened at $118.73 on Friday. Cameco has a 1-year low of $48.81 and a 1-year high of $135.24. The firm has a market capitalization of $51.71 billion, a price-to-earnings ratio of 109.93, a P/E/G ratio of 2.35 and a beta of 1.04. The company has a current ratio of 3.08, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $114.87 and a 200 day simple moving average of $105.97.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same period in the previous year, the business earned $0.16 EPS. Cameco's revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Cameco will post 1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. TD Securities cut shares of Cameco from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Glj Research reiterated a "buy" rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $147.00 price objective on shares of Cameco in a research note on Thursday, February 5th. Royal Bank Of Canada lifted their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a research note on Tuesday, February 17th. Finally, Scotiabank reiterated an "outperform" rating and issued a $175.00 price objective on shares of Cameco in a research note on Wednesday. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Cameco currently has a consensus rating of "Moderate Buy" and a consensus target price of $153.13.

About Cameco

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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