Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the recipient of unusually large options trading on Thursday. Stock traders acquired 28,210 put options on the company. This is an increase of approximately 942% compared to the typical volume of 2,706 put options.

Cameco Stock Up 1.7%

Shares of CCJ opened at $105.71 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The stock has a market capitalization of $46.03 billion, a price-to-earnings ratio of 122.92 and a beta of 1.01. Cameco has a 1 year low of $35.00 and a 1 year high of $110.15. The business’s 50 day simple moving average is $91.53 and its 200-day simple moving average is $84.00.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.17). The business had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.The company’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) EPS. As a group, equities analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st were issued a $0.24 dividend. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date was Monday, December 1st. This represents a dividend yield of 27.0%. Cameco’s payout ratio is presently 19.77%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CCJ. Ulland Investment Advisors LLC purchased a new stake in Cameco during the fourth quarter valued at approximately $73,000. M. Kulyk & Associates LLC increased its position in shares of Cameco by 2.2% during the 4th quarter. M. Kulyk & Associates LLC now owns 106,983 shares of the basic materials company’s stock valued at $9,788,000 after purchasing an additional 2,324 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Cameco by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,717 shares of the basic materials company’s stock valued at $1,529,000 after buying an additional 311 shares during the period. Magnus Financial Group LLC purchased a new stake in Cameco during the 4th quarter valued at $293,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Cameco by 9.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,691 shares of the basic materials company’s stock worth $155,000 after buying an additional 145 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CCJ. Raymond James Financial lifted their target price on Cameco to $150.00 in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cameco in a research report on Monday, December 29th. President Capital raised shares of Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Finally, UBS Group assumed coverage on shares of Cameco in a report on Monday, November 10th. They issued a “neutral” rating and a $140.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.68.

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.