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

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

Analysts Set New Price Targets

A number of research firms have weighed in on CCJ. The Goldman Sachs Group assumed coverage on Cameco in a research report on Monday, April 1st. They set a “buy” rating and a $55.00 price target for the company. StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.75.

Cameco Price Performance

NYSE:CCJ opened at $49.18 on Friday. Cameco has a 1-year low of $25.72 and a 1-year high of $52.64. The company has a current ratio of 1.55, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $44.28 and a 200 day simple moving average of $43.85. The stock has a market capitalization of $21.35 billion, a PE ratio of 81.97 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.06). Cameco had a net margin of 13.97% and a return on equity of 5.61%. The firm had revenue of $620.00 million during the quarter. On average, research analysts expect that Cameco will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently added to or reduced their stakes in CCJ. Venturi Wealth Management LLC lifted its holdings in Cameco by 235.3% during the 1st quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 400 shares during the last quarter. Principal Securities Inc. acquired a new stake in Cameco during the 4th quarter valued at $29,000. Allworth Financial LP lifted its holdings in Cameco by 1,049.2% during the 3rd quarter. Allworth Financial LP now owns 747 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 682 shares during the last quarter. Versant Capital Management Inc acquired a new stake in Cameco during the 4th quarter valued at $34,000. Finally, Sandy Spring Bank acquired a new stake in shares of Cameco during the fourth quarter worth $43,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.