Cameco Sees Unusually Large Options Volume (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) saw some unusual options trading on Thursday. Stock traders purchased 28,210 put options on the company. This is an increase of 942% compared to the average daily volume of 2,706 put options.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada raised their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. William Blair started coverage on Cameco in a research note on Monday, April 20th. They set an “outperform” rating on the stock. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce raised their price objective on Cameco to $202.00 in a research note on Monday, March 9th. Finally, Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $153.13.

Cameco Stock Down 2.6%

Shares of CCJ opened at $112.40 on Friday. The company has a market capitalization of $48.95 billion, a PE ratio of 104.08, a PEG ratio of 1.95 and a beta of 1.04. Cameco has a 12 month low of $50.03 and a 12 month high of $135.24. The stock’s 50-day moving average price is $114.51 and its two-hundred day moving average price is $107.07. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter last year, the firm posted $0.16 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. On average, analysts anticipate that Cameco will post 1.32 EPS for the current year.

Institutional Trading of Cameco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCJ. Bison Wealth LLC increased its position in Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares in the last quarter. AQR Capital Management LLC increased its position in Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after buying an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in Cameco by 48.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after purchasing an additional 64,512 shares in the last quarter. Finally, NewGen Equity Long Short Fund purchased a new stake in shares of Cameco in the second quarter worth approximately $14,252,000. 70.21% of the stock is owned by institutional investors.

About Cameco

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.