Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ – Get Rating) (TSE:CCO) was the recipient of unusually large options trading on Thursday. Stock traders bought 384,705 call options on the stock. This is an increase of 1,490% compared to the typical volume of 24,198 call options.

Cameco Stock Down 0.4 %

Shares of NYSE CCJ opened at $27.75 on Friday. The business’s 50 day moving average is $26.33 and its two-hundred day moving average is $25.53. Cameco has a 52-week low of $20.34 and a 52-week high of $31.29. The company has a quick ratio of 6.64, a current ratio of 7.75 and a debt-to-equity ratio of 0.17. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 95.69 and a beta of 0.95.

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors grew its position in Cameco by 402.0% during the 1st quarter. Capital World Investors now owns 10,131,797 shares of the basic materials company’s stock worth $295,084,000 after purchasing an additional 8,113,385 shares during the last quarter. FMR LLC grew its position in shares of Cameco by 44.1% in the first quarter. FMR LLC now owns 21,302,221 shares of the basic materials company’s stock valued at $557,732,000 after purchasing an additional 6,521,454 shares during the last quarter. FIL Ltd purchased a new position in Cameco during the first quarter worth $168,002,000. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 purchasing an additional 4,644,453 shares during the last quarter. Finally, Perpetual Ltd acquired a new position in shares of Cameco in the first quarter valued at approximately $117,233,000. Hedge funds and other institutional investors own 53.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CCJ. StockNews.com lowered Cameco from a “hold” rating to a “sell” rating in a research note on Friday, May 19th. TD Securities raised their target price on Cameco from C$50.00 to C$51.00 in a report on Monday, May 1st. Scotiabank increased their target price on shares of Cameco from C$43.00 to C$50.00 in a research note on Friday, February 10th. Finally, Raymond James increased their price objective on shares of Cameco to C$50.00 in a report on Monday, May 1st.

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.