Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) saw unusually large options trading on Thursday. Stock traders bought 384,705 call options on the stock. This represents an increase of 1,490% compared to the average volume of 24,198 call options.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC grew its holdings in shares of Cameco by 235.3% during the first quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock valued at $25,000 after buying an additional 400 shares during the last quarter. LRI Investments LLC purchased a new stake in Cameco in the first quarter valued at approximately $26,000. Principal Securities Inc. acquired a new position in Cameco in the 4th quarter worth approximately $29,000. Lindbrook Capital LLC raised its position in Cameco by 26.0% during the 1st quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock worth $46,000 after buying an additional 221 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Cameco by 99.3% in the 1st quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Bank of America lifted their price objective on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Glj Research reaffirmed a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.71.

Cameco Price Performance

NYSE CCJ opened at $40.25 on Friday. Cameco has a 12-month low of $33.63 and a 12-month high of $56.24. The firm’s fifty day simple moving average is $47.25 and its two-hundred day simple moving average is $47.07. The company has a current ratio of 3.22, a quick ratio of 0.69 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $17.52 billion, a P/E ratio of 103.21 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 24.1% on a year-over-year basis. Analysts forecast that Cameco will post 1.06 EPS for the current fiscal 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.