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

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

Several institutional investors and hedge funds have recently made changes to their positions in CCJ. Capital World Investors lifted its stake in shares of Cameco by 402.0% in the 1st quarter. Capital World Investors now owns 10,131,797 shares of the basic materials company’s stock valued at $295,084,000 after acquiring an additional 8,113,385 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cameco by 37.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,068,688 shares of the basic materials company’s stock valued at $497,555,000 after acquiring an additional 4,644,453 shares during the last quarter. Norges Bank bought a new position in shares of Cameco in the 4th quarter valued at $68,182,000. Toronto Dominion Bank raised its position in Cameco by 98.5% during the 4th quarter. Toronto Dominion Bank now owns 3,601,183 shares of the basic materials company’s stock worth $78,514,000 after purchasing an additional 1,786,663 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new position in Cameco during the 3rd quarter worth $34,292,000. Institutional investors own 57.95% of the company’s stock.

Shares of NYSE:CCJ opened at $26.15 on Friday. The business’s 50 day simple moving average is $26.21 and its 200 day simple moving average is $24.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.05 and a quick ratio of 4.12. Cameco has a 1 year low of $15.34 and a 1 year high of $32.49. The company has a market capitalization of $10.42 billion, a P/E ratio of -237.71 and a beta of 0.88.

Cameco (NYSE:CCJGet Rating) (TSE:CCO) last released its earnings results on Thursday, May 5th. The basic materials company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.07. Cameco had a negative return on equity of 1.08% and a negative net margin of 3.72%. The firm had revenue of $314.21 million during the quarter. On average, sell-side analysts anticipate that Cameco will post 0.11 EPS for the current fiscal year.

Several analysts recently issued reports on CCJ shares. Bank of America upped their target price on Cameco from C$40.00 to C$46.00 in a report on Tuesday, April 12th. Zacks Investment Research downgraded Cameco from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. BMO Capital Markets raised Cameco from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $33.00 to $42.00 in a research report on Wednesday, March 30th. Scotiabank boosted their price target on Cameco from C$40.00 to C$47.00 in a research report on Wednesday, April 13th. Finally, StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $40.70.

About Cameco (Get Rating)

Cameco Corporation produces and sells uranium. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as 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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