Cameco Target of Unusually Large Options Trading (NYSE:CCJ)

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

Hedge Funds Weigh In On Cameco

A number of hedge funds have recently added to or reduced their stakes in CCJ. Norges Bank acquired a new position in Cameco in the fourth quarter worth approximately $188,595,000. FMR LLC increased its holdings in Cameco by 8.7% in the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock worth $1,163,942,000 after buying an additional 1,811,876 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Cameco by 58.0% in the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after buying an additional 1,386,639 shares during the last quarter. M&G PLC acquired a new position in Cameco in the third quarter worth approximately $66,227,000. Finally, Alliancebernstein L.P. increased its holdings in Cameco by 13.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock worth $518,443,000 after buying an additional 1,196,336 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Price Performance

Shares of CCJ opened at $47.22 on Friday. The company has a market capitalization of $20.56 billion, a price-to-earnings ratio of 248.56 and a beta of 0.94. Cameco has a fifty-two week low of $35.43 and a fifty-two week high of $62.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The business’s 50-day moving average is $52.07 and its 200-day moving average is $49.47.

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.