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

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO saw some unusual options trading on Thursday. Stock investors purchased 384,705 call options on the stock. This represents an increase of 1,490% compared to the typical volume of 24,198 call options.

Institutional Trading of Cameco

Hedge funds have recently modified their holdings of the business. Dantai Capital Ltd grew its holdings in shares of Cameco by 44.2% in the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company's stock worth $2,735,000 after acquiring an additional 17,560 shares during the period. Roberts Wealth Advisors LLC purchased a new position in Cameco during the fourth quarter worth about $895,000. Whalen Wealth Management Inc. purchased a new position in shares of Cameco during the 4th quarter worth about $445,000. Sprott Inc. boosted its holdings in shares of Cameco by 44.5% in the 4th quarter. Sprott Inc. now owns 111,896 shares of the basic materials company's stock valued at $5,750,000 after purchasing an additional 34,483 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Cameco in the fourth quarter valued at $930,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. Desjardins assumed coverage on Cameco in a research note on Friday, April 4th. They set a "buy" rating on the stock. Stifel Nicolaus started coverage on shares of Cameco in a research report on Wednesday, March 12th. They issued a "buy" rating for the company. Glj Research boosted their price objective on Cameco from $62.76 to $75.68 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. Finally, Sanford C. Bernstein assumed coverage on Cameco in a report on Tuesday, April 1st. They issued an "outperform" rating and a $52.00 target price on the stock. One analyst has rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $70.03.

Cameco Stock Performance

NYSE:CCJ traded down $0.21 during trading hours on Wednesday, reaching $45.21. 3,499,550 shares of the company's stock were exchanged, compared to its average volume of 4,068,034. Cameco has a 1-year low of $35.00 and a 1-year high of $62.55. The firm has a market capitalization of $19.68 billion, a price-to-earnings ratio of 161.46 and a beta of 1.04. The company has a 50-day moving average of $42.01 and a 200 day moving average of $49.35. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The firm had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. Research analysts anticipate that Cameco will post 1.27 EPS for the current year.

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.