Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

by · The Markets Daily

Cameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO) saw unusually large options trading on Thursday. Stock investors acquired 384,705 call options on the company. This is an increase of approximately 1,490% compared to the typical daily volume of 24,198 call options.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CCJ. CLSA initiated coverage on Cameco in a research report on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 price objective for the company. The Goldman Sachs Group lifted their price target on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. UBS Group initiated coverage on shares of Cameco in a research report on Monday, November 10th. They issued a “neutral” rating and a $140.00 target price on the stock. Finally, Glj Research restated a “buy” rating and issued a $99.74 target price on shares of Cameco in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $117.25.

Read Our Latest Report on Cameco

Cameco Stock Up 2.6%

CCJ opened at $89.90 on Friday. Cameco has a 1 year low of $35.00 and a 1 year high of $110.15. The firm has a 50 day moving average price of $90.43 and a 200 day moving average price of $81.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The company has a market cap of $39.14 billion, a PE ratio of 104.53 and a beta of 1.07.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The business had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.Cameco’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Sell-side analysts expect that Cameco will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st were paid a dividend of $0.24 per share. This is a boost from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 27.0%. The ex-dividend date was Monday, December 1st. Cameco’s payout ratio is presently 19.77%.

Institutional Investors Weigh In On Cameco

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Cameco by 1.3% in the third quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock valued at $1,493,978,000 after acquiring an additional 235,613 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Cameco by 39.3% in the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock valued at $578,226,000 after purchasing an additional 3,959,837 shares during the period. Capital World Investors grew its holdings in Cameco by 0.8% during the 3rd quarter. Capital World Investors now owns 13,503,924 shares of the basic materials company’s stock valued at $1,133,147,000 after purchasing an additional 106,872 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after purchasing an additional 85,762 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after buying an additional 2,071,373 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

(Get Free Report)

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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