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

Cameco Co. (NYSE:CCJ – Get Rating) (TSE:CCO) was the target of 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 volume of 24,198 call options.

Institutional Trading of Cameco

Several large investors have recently made changes to their positions in CCJ. Capital World Investors boosted its holdings in Cameco by 402.0% in the first 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. FMR LLC boosted its holdings in Cameco by 360.1% in the second quarter. FMR LLC now owns 8,186,417 shares of the basic materials company’s stock valued at $172,088,000 after acquiring an additional 6,407,271 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cameco by 37.4% in the first 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 Cameco in the fourth quarter valued at about $72,843,000. Finally, National Bank of Canada FI boosted its holdings in Cameco by 313.1% in the fourth quarter. National Bank of Canada FI now owns 3,639,653 shares of the basic materials company’s stock valued at $82,469,000 after acquiring an additional 2,758,547 shares during the last quarter. Institutional investors own 53.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CCJ shares. StockNews.com started coverage on Cameco in a research report on Thursday. They issued a “sell” rating on the stock. TD Securities upgraded Cameco to a “buy” rating in a research report on Friday, February 10th. Scotiabank upped their price target on Cameco from C$43.00 to C$50.00 in a research report on Friday, February 10th. Finally, Raymond James upped their price target on Cameco from C$45.00 to C$48.00 in a research report on Friday, February 10th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus price target of $45.14.

Cameco Price Performance

Shares of CCJ stock opened at $24.61 on Friday. The stock’s fifty day moving average is $26.96 and its 200-day moving average is $25.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.74 and a current ratio of 5.92. The stock has a market capitalization of $10.66 billion, a PE ratio of 144.77 and a beta of 0.95. Cameco has a 52 week low of $20.01 and a 52 week high of $32.49.

About Cameco

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Cameco Corp. engages in the provision of uranium. It operates through the Uranium and Fuel Services segments. The Uranium segment is involved in the exploration for, mining, milling, purchase, and sale of uranium concentrate. The Fuel Services segment deals with the refining, conversion, and fabrication of uranium concentrate and the purchase and sale of conversion services.