Cameco Sees Unusually High Options Volume (NYSE:CCJ)

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

Cameco Stock Performance

Shares of Cameco stock opened at $109.77 on Friday. The business’s 50 day moving average price is $114.36 and its 200 day moving average price is $96.18. The company has a market cap of $47.81 billion, a price-to-earnings ratio of 113.16 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. Cameco has a one year low of $35.00 and a one year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company had revenue of $874.57 million during the quarter, compared to analysts’ expectations of $782.13 million. During the same period in the prior year, the business earned $0.36 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts predict that Cameco will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Cameco

A number of institutional investors have recently bought and sold shares of CCJ. Norges Bank acquired a new stake in shares of Cameco during the 4th quarter worth approximately $443,265,000. TD Asset Management Inc lifted its holdings in Cameco by 116.7% in 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 acquiring an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after acquiring an additional 2,071,373 shares during the last quarter. Marshall Wace LLP grew its position in Cameco by 7,481.3% in the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after acquiring an additional 1,729,454 shares during the period. Finally, Van ECK Associates Corp increased its stake 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 worth $456,530,000 after acquiring an additional 1,644,061 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCJ has been the topic of several analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $131.00 price target on shares of Cameco in a research report on Wednesday, February 4th. Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. 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. Finally, Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and an average price target of $143.03.

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.