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

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the target of unusually large options trading on Thursday. Stock investors purchased 384,705 call options on the company. This is an increase of approximately 1,490% compared to the average daily volume of 24,198 call options.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cameco has an average rating of “Buy” and a consensus price target of $66.56.

Hedge Funds Weigh In On Cameco

Several institutional investors have recently added to or reduced their stakes in CCJ. Polar Asset Management Partners Inc. raised its stake in Cameco by 337.2% during the 4th quarter. Polar Asset Management Partners Inc. now owns 98,376 shares of the basic materials company’s stock worth $5,055,000 after buying an additional 75,876 shares during the period. Hall Capital Management Co. Inc. bought a new position in shares of Cameco during the fourth quarter valued at about $204,000. Ameriflex Group Inc. bought a new position in shares of Cameco in the fourth quarter valued at approximately $40,000. Jupiter Wealth Management LLC bought a new stake in Cameco during the fourth quarter worth $514,000. Finally, Formidable Asset Management LLC boosted its stake in Cameco by 13.4% in the fourth quarter. Formidable Asset Management LLC now owns 18,756 shares of the basic materials company’s stock valued at $964,000 after acquiring an additional 2,215 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Down 2.8 %

Shares of NYSE:CCJ opened at $43.49 on Friday. The business has a fifty day simple moving average of $50.04 and a 200 day simple moving average of $49.81. Cameco has a 12-month low of $35.43 and a 12-month high of $62.55. The firm has a market cap of $18.93 billion, a P/E ratio of 155.32 and a beta of 0.94. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Analysts predict that Cameco will post 1.27 earnings per share for the current year.

Cameco Company Profile

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.