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

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

Institutional Investors Weigh In On Cameco

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Cameco by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after acquiring an additional 200,871 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cameco by 2.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock valued at $593,967,000 after purchasing an additional 288,400 shares during the last quarter. Capital World Investors increased its holdings in shares of Cameco by 1.6% in the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after purchasing an additional 215,741 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Cameco by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after purchasing an additional 202,157 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in shares of Cameco by 6.8% during the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after buying an additional 265,196 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Up 1.0 %

Cameco stock opened at $48.06 on Friday. The stock has a market capitalization of $20.91 billion, a PE ratio of 123.23 and a beta of 0.90. Cameco has a twelve month low of $35.18 and a twelve month high of $56.24. The company has a 50 day moving average of $41.55 and a 200-day moving average of $46.60. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business had revenue of $598.00 million during the quarter, compared to the consensus estimate of $756.00 million. During the same period in the prior year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cameco will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of research reports. Bank of America upped their price objective on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a report on Wednesday, June 26th. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Glj Research reissued a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Finally, Scotiabank reduced their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $67.25.

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.