Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) saw unusually large options trading activity on Thursday. Stock investors acquired 28,210 put options on the stock. This is an increase of 942% compared to the typical volume of 2,706 put options.

Institutional Trading of Cameco

Large investors have recently modified their holdings of the stock. Morgan Stanley increased its position in Cameco by 5.8% in the third quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock worth $307,300,000 after buying an additional 428,310 shares during the last quarter. Guardian Capital LP boosted its holdings in Cameco by 40.7% during the 3rd quarter. Guardian Capital LP now owns 864,304 shares of the basic materials company’s stock valued at $34,451,000 after acquiring an additional 250,115 shares during the period. Foster Victor Wealth Advisors LLC purchased a new stake in Cameco in the 4th quarter worth approximately $3,956,000. Financial Insights Inc. bought a new stake in Cameco in the third quarter valued at $1,942,000. Finally, Platinum Investment Management Ltd. lifted its holdings in Cameco by 156.3% in the third quarter. Platinum Investment Management Ltd. now owns 3,089,235 shares of the basic materials company’s stock worth $122,605,000 after buying an additional 1,884,004 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of analyst reports. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. The Goldman Sachs Group assumed coverage on Cameco in a research note on Monday, April 1st. They issued a “buy” rating and a $55.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cameco has an average rating of “Moderate Buy” and a consensus target price of $62.75.

Cameco Stock Down 0.0 %

Shares of CCJ opened at $48.41 on Friday. The stock has a market capitalization of $21.02 billion, a PE ratio of 124.13 and a beta of 0.92. Cameco has a 12 month low of $26.15 and a 12 month high of $52.64. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $45.07 and its 200-day moving average is $44.31.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.06). The firm had revenue of $620.00 million for the quarter. Cameco had a return on equity of 4.60% and a net margin of 9.28%. Equities research analysts forecast that Cameco will post 1.53 EPS for the current year.

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.