Cameco Sees Unusually High Options Volume (NYSE:CCJ)

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CCJ shares. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. William Blair started coverage on shares of Cameco in a report on Monday, April 20th. They set an “outperform” rating on the stock. Bank of America lowered their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday. Finally, Barclays started coverage on shares of Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target on the stock. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.11.

Cameco Stock Performance

Shares of CCJ stock traded down $5.87 during trading hours on Monday, hitting $90.12. The stock had a trading volume of 6,231,758 shares, compared to its average volume of 3,677,575. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The firm has a market capitalization of $39.25 billion, a PE ratio of 83.44, a PEG ratio of 1.69 and a beta of 1.02. The stock’s 50 day moving average is $106.85 and its 200 day moving average is $110.94. Cameco has a twelve month low of $68.96 and a twelve month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same period in the previous year, the company posted $0.16 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, research analysts forecast that Cameco will post 1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC acquired a new position in Cameco in the 1st quarter valued at about $30,000. Nisa Investment Advisors LLC purchased a new position in shares of Cameco in the 4th quarter valued at approximately $25,000. Brown Lisle Cummings Inc. increased its holdings in shares of Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 288 shares during the period. Founders Capital Management purchased a new stake in shares of Cameco during the fourth quarter worth approximately $27,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of Cameco during the fourth quarter worth $28,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.