Cameco Sees Unusually High Options Volume (NYSE:CCJ)

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

Cameco Stock Down 4.4%

Shares of Cameco stock opened at $107.58 on Friday. The stock’s fifty day moving average is $114.26 and its 200-day moving average is $107.07. The firm has a market capitalization of $46.85 billion, a PE ratio of 99.61, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. Cameco has a 12-month low of $50.03 and a 12-month high of $135.24.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on CCJ. William Blair began coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating for the company. Glj Research reiterated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Scotiabank reiterated an “outperform” rating and set a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their price target on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $153.13.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCJ. Norges Bank acquired a new position in Cameco during the fourth quarter valued at $443,265,000. TD Asset Management Inc raised its position in Cameco by 116.7% during the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after buying an additional 2,489,207 shares during the period. Marshall Wace LLP raised its position in Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after buying an additional 1,729,454 shares during the period. Van ECK Associates Corp raised its position in Cameco by 43.3% during the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after buying an additional 1,644,061 shares during the period. Finally, Mizuho Markets Cayman LP purchased a new position in Cameco in the third quarter valued at about $128,370,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Company Profile

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.