Cameco Sees Unusually High Options Volume (NYSE:CCJ)

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

Cameco Trading Down 3.2 %

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Shares of CCJ stock opened at $38.76 on Friday. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $62.55. The firm has a market capitalization of $16.87 billion, a P/E ratio of 138.41 and a beta of 1.04. The stock's fifty day moving average is $43.73 and its two-hundred day moving average is $50.05. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

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

Hedge Funds Weigh In On Cameco

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CCJ. StockNews.com cut Cameco from a "hold" rating to a "sell" rating in a research report on Wednesday, April 2nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $90.00 target price on shares of Cameco in a report on Tuesday, March 4th. Sanford C. Bernstein began coverage on shares of Cameco in a report on Tuesday, April 1st. They issued an "outperform" rating and a $52.00 price target on the stock. Stifel Nicolaus began coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a "buy" rating for the company. Finally, Stifel Canada upgraded Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $70.03.

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Get Our Latest Research Report on Cameco

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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