Unusual call option trade at Cameco (CCJ) worth $1,470,000

On March 29, 2023 at 09:49:48 ET, an unusually large $1,470,000 block of Cameco (CCJ) call contracts was purchased, with a strike price of $32.00/share, expiring in 170 days (September 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 5.62 sigma above the average, putting it in the 100.00 percentile of all recent large trades made in CCJ Options .

This trade was first detected on Fintel’s real-time unusual options trades tool, where unusual options trades are highlighted.

Analyst price forecast suggests 36.91% upside

As of March 28, 2023, the one-year average price target for Cameco was $34.65. The forecast ranges from a low of $26.07 to a high of $38.18. The average price target represents a 36.91% increase from its last reported closing price of $25.31.

Check out our ranking of companies with the biggest upward price target.

Cameco’s projected annual revenue is $2,131 million. Projected annual non-GAAP EPS is $0.81.

What is fund sentiment?

There are 708 funds or institutions reporting positions to Cameco. This is a decrease of 14 owners or 1.94% in the last quarter. Average portfolio weight of all funds dedicated to the CCJ is 0.49%, a decrease of 9.35%. The total number of shares held by institutions has increased over the past three months by 13.21% to 312,949,000 shares. CCJ’s put/call ratio is 0.63, indicating a bullish outlook.

What do major shareholders do?

URA – Global X Uranium ETF holds 14,699,000 shares representing 3.40% ownership of the company. In its previous filing, the company stated that it holds 14,123,000 shares, representing
a raise
of 3.91%. The company

decreases

its CCJ portfolio allocation of 6.85% in the last quarter.

Capital World Investors holds 14,281,000 shares representing 3.30% ownership of the company. In its previous filing, the company stated that it holds 11,545,000 shares, representing
a raise
of 19.16%. The company

increase

its CCJ portfolio allocation by 0.31% in the last quarter.

Mirae Asset Global Investments Co. holds 14,119,000 shares representing 3.26% ownership of the company. In its previous filing, the company stated that it holds 14,571,000 shares, representing
a decrease
3.20%. The company

decreases

its portfolio allocation in CCJ by 56.52% in the last quarter.

William Blair Investment Management holds 11,206,000 shares representing 2.59% ownership of the company. In its previous filing, the company stated that it holds 10,208,000 shares, representing
a raise
8.90%. The company

decreases

its portfolio allocation in CCJ by 9.15% in the last quarter.

Price T Rowe Associates owns 9,512,000 shares representing 2.20% ownership of the company. In its previous filing, the company stated that it holds 11,827,000 shares, representing
a decrease
of 24.33%. The company

decreases

its portfolio allocation in CCJ by 32.46% in the last quarter.

General information about Cameco
(This description is provided by the company.)

Cameco is one of the world’s largest suppliers of the fuel needed to power a clean-air world. The company’s Tier 1 operations have the licensed capacity to produce over 53 million pounds (100% basis) of uranium concentrates annually, backed by 455 million pounds of proven and probable mineral reserves (its share) . The Company is also a major provider of uranium refining, conversion and fuel fabrication services. Utilities around the world rely on the company’s nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. The company is meeting the ever-increasing demand for clean baseload electricity while providing safe and reliable solutions to today’s clean air crisis.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.