Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Posted by Defense World Staff on Jun 23rd, 2023

Cameco Co. (NYSE:CCJ – Get Rating) (TSE:CCO) saw some unusual options trading on Thursday. Traders 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.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several research analyst reports. StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Raymond James raised their price objective on Cameco to C$50.00 in a research note on Monday, May 1st. Finally, TD Securities lifted their price target on Cameco from C$50.00 to C$51.00 in a research note on Monday, May 1st.

Cameco Trading Down 1.5 %

Shares of NYSE:CCJ opened at $30.87 on Friday. Cameco has a 12-month low of $20.34 and a 12-month high of $33.00. The stock has a market cap of $13.37 billion, a PE ratio of 106.45, a P/E/G ratio of 0.64 and a beta of 0.95. The business has a 50 day moving average of $28.34 and a 200-day moving average of $26.42. The company has a quick ratio of 6.64, a current ratio of 7.75 and a debt-to-equity ratio of 0.17.

Cameco (NYSE:CCJ – Get Rating) (TSE:CCO) last released its earnings results on Friday, April 28th. The basic materials company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $508.09 million during the quarter. Cameco had a return on equity of 4.26% and a net margin of 7.84%. As a group, equities research analysts forecast that Cameco will post 0.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cameco by 37.4% in the first 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. Bank of New York Mellon Corp raised its holdings in shares of Cameco by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 454,418 shares of the basic materials company’s stock valued at $13,223,000 after purchasing an additional 9,757 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Cameco by 6.0% in the first quarter. American Century Companies Inc. now owns 25,154 shares of the basic materials company’s stock valued at $733,000 after purchasing an additional 1,414 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Cameco by 10.4% in the first quarter. BlackRock Inc. now owns 554,571 shares of the basic materials company’s stock valued at $16,138,000 after purchasing an additional 52,341 shares during the last quarter. Finally, Aviva PLC purchased a new stake in Cameco during the first quarter worth about $819,000. 63.86% of the stock is owned by institutional investors.

Cameco Company Profile

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Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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.

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