Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) saw some unusual options trading activity on Thursday. Traders purchased 384,705 call options on the company. This represents an increase of approximately 1,490% compared to the typical volume of 24,198 call options.

Cameco Trading Down 3.2 %

CCJ opened at $38.76 on Friday. The firm has a 50 day simple moving average of $43.73 and a 200 day simple moving average of $50.05. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $62.55. The company has a market cap of $16.87 billion, a price-to-earnings ratio of 138.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting 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. On average, sell-side analysts anticipate that Cameco will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $90.00 price target on shares of Cameco in a research report on Tuesday, March 4th. Desjardins assumed coverage on Cameco in a report on Friday, April 4th. They set a “buy” rating on the stock. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a research report on Wednesday, April 2nd. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus began coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $70.03.

Hedge Funds Weigh In On Cameco

Hedge funds have recently added to or reduced their stakes in the stock. Sierra Ocean LLC bought a new stake in shares of Cameco in the 4th quarter valued at about $25,000. Hurley Capital LLC bought a new stake in Cameco in the fourth quarter valued at approximately $27,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Cameco in the fourth quarter worth $28,000. Whipplewood Advisors LLC bought a new position in shares of Cameco during the fourth quarter worth $33,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Cameco in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.