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

Cameco Co. (NYSE:CCJ) (TSE:CCO) saw unusually large options trading on Thursday. Stock investors purchased 28,210 put options on the company. This represents an increase of 942% compared to the average daily volume of 2,706 put options.

Cameco Trading Up 6.4 %

Shares of CCJ stock opened at $53.04 on Friday. Cameco has a fifty-two week low of $26.15 and a fifty-two week high of $53.38. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.69 and a current ratio of 1.42. The stock has a 50 day simple moving average of $46.93 and a two-hundred day simple moving average of $45.19. The company has a market cap of $23.03 billion, a P/E ratio of 136.00 and a beta of 0.92.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. The Goldman Sachs Group began coverage on shares of Cameco in a research report on Monday, April 1st. They issued a “buy” rating and a $55.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.75.

Institutional Trading of Cameco

Several hedge funds have recently modified their holdings of CCJ. Venturi Wealth Management LLC grew its holdings in Cameco by 235.3% in the first quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 400 shares during the period. Principal Securities Inc. bought a new position in shares of Cameco during the 4th quarter worth about $29,000. Allworth Financial LP grew its stake in shares of Cameco by 1,049.2% in the 3rd quarter. Allworth Financial LP now owns 747 shares of the basic materials company’s stock valued at $30,000 after buying an additional 682 shares during the period. LRI Investments LLC acquired a new position in Cameco during the 1st quarter worth approximately $30,000. Finally, Versant Capital Management Inc acquired a new position in Cameco during the 4th quarter worth approximately $34,000. Institutional investors own 70.21% of the company’s stock.

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.