Traders Buy Large Volume of Cameco Put Options (NYSE:CCJ)

Cameco Co. (NYSE:CCJ) (TSE:CCO) was the recipient of some unusual options trading activity on Thursday. Investors acquired 28,210 put options on the stock. This is an increase of approximately 942% compared to the typical volume of 2,706 put options.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Glj Research reaffirmed a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank lowered their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Bank of America raised their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $66.56.

Institutional Investors Weigh In On Cameco

Large investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. lifted its position in Cameco by 71.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Cameco during the first quarter worth $26,000. Larson Financial Group LLC lifted its position in shares of Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 600 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Cameco in the first quarter valued at $87,000. Finally, BNP Paribas acquired a new stake in Cameco during the 1st quarter valued at $93,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Price Performance

CCJ opened at $56.68 on Friday. Cameco has a 52-week low of $35.43 and a 52-week high of $57.55. The company has a 50 day moving average of $44.05 and a two-hundred day moving average of $47.58. The company has a market cap of $24.67 billion, a P/E ratio of 145.33 and a beta of 0.90. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. During the same period last year, the company posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, analysts expect that Cameco will post 0.83 earnings per share for the current year.

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.