Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the recipient of some unusual options trading activity on Monday. Traders acquired 28,800 put options on the stock. This represents an increase of approximately 36% compared to the typical volume of 21,232 put options.

Analysts Set New Price Targets

A number of research analysts have commented on CCJ shares. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Bank of America cut their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday. Barclays assumed coverage on Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 target price on the stock. Finally, Royal Bank Of Canada raised their target price on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and an average price target of $148.11.

Institutional Investors Weigh In On Cameco

Several large investors have recently bought and sold shares of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Cameco by 6.2% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 6,647 shares of the basic materials company’s stock valued at $677,000 after buying an additional 389 shares during the period. Contravisory Investment Management Inc. raised its holdings in Cameco by 2,229.3% in the second quarter. Contravisory Investment Management Inc. now owns 71,788 shares of the basic materials company’s stock valued at $7,312,000 after acquiring an additional 68,706 shares in the last quarter. Vertrix Wealth Management LLC purchased a new position in Cameco in the second quarter worth approximately $567,000. Chemistry Wealth Management LLC grew its holdings in Cameco by 13.4% during the 2nd quarter. Chemistry Wealth Management LLC now owns 3,402 shares of the basic materials company’s stock worth $347,000 after acquiring an additional 402 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Cameco by 12.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 27,761 shares of the basic materials company’s stock valued at $2,828,000 after purchasing an additional 3,014 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Down 6.1%

CCJ traded down $5.87 during trading hours on Monday, hitting $90.12. 6,231,758 shares of the company’s stock were exchanged, compared to its average volume of 3,677,575. The firm has a market cap of $39.25 billion, a P/E ratio of 83.44, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02. Cameco has a 12-month low of $68.96 and a 12-month high of $135.24. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $106.85 and a 200 day moving average of $110.94.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. The company had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. Analysts predict that Cameco will post 1.2 EPS for the current fiscal year.

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.