Investors Buy Large Volume of Put Options on Cameco (NYSE:CCJ)

Cameco Co. (NYSE:CCJGet Rating) (TSE:CCO) was the target of unusually large options trading on Wednesday. Traders bought 28,210 put options on the company. This represents an increase of 942% compared to the typical daily volume of 2,706 put options.

Analysts Set New Price Targets

Separately, Scotiabank lifted their price objective on Cameco from C$43.00 to C$44.00 in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.89.

Hedge Funds Weigh In On Cameco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in Cameco by 107.7% during the first quarter. Parallel Advisors LLC now owns 5,451 shares of the basic materials company’s stock valued at $153,000 after acquiring an additional 2,827 shares during the period. Financial Advocates Investment Management grew its stake in shares of Cameco by 13.7% in the 1st quarter. Financial Advocates Investment Management now owns 13,984 shares of the basic materials company’s stock valued at $407,000 after purchasing an additional 1,683 shares during the period. Synovus Financial Corp grew its stake in shares of Cameco by 15.3% in the 1st quarter. Synovus Financial Corp now owns 127,403 shares of the basic materials company’s stock valued at $3,710,000 after purchasing an additional 16,941 shares during the period. Geneva Partners LLC bought a new stake in shares of Cameco in the 1st quarter valued at approximately $963,000. Finally, Trek Financial LLC bought a new stake in shares of Cameco in the 1st quarter valued at approximately $4,620,000. 58.85% of the stock is currently owned by institutional investors.

Cameco Trading Down 1.6 %

Shares of CCJ opened at $27.01 on Friday. Cameco has a 12-month low of $18.03 and a 12-month high of $32.49. The company has a quick ratio of 4.84, a current ratio of 6.02 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 226.10 and a beta of 0.94. The stock’s 50-day moving average price is $26.18 and its 200 day moving average price is $25.64.

Cameco (NYSE:CCJGet Rating) (TSE:CCO) last issued its quarterly earnings results on Wednesday, July 27th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.16. Cameco had a return on equity of 1.17% and a net margin of 3.48%. The firm had revenue of $437.25 million for the quarter. As a group, research analysts predict that Cameco will post 0.2 earnings per share for the current year.

About Cameco

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Cameco Corporation produces and sells uranium. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as 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.

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