Stock Traders Purchase Large Volume of Put Options on Cameco (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the target of some unusual options trading on Thursday. Stock investors purchased 28,210 put options on the stock. This represents an increase of 942% compared to the average volume of 2,706 put options.

Institutional Investors Weigh In On Cameco

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Consulate Inc. acquired a new stake in shares of Cameco during the third quarter worth approximately $25,000. Strategic Advocates LLC acquired a new stake in Cameco in the third quarter valued at $28,000. Armstrong Advisory Group Inc. boosted its stake in Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 182 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in Cameco by 928.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 325 shares in the last quarter. Finally, Trust Co. of Vermont grew its holdings in Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 350 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Royal Bank Of Canada reduced their target price on Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. The Goldman Sachs Group lifted their price objective on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wall Street Zen cut Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. National Bankshares restated an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Cameco in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Cameco has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Cameco Stock Up 1.7%

NYSE CCJ opened at $105.71 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $110.15. The business has a 50 day moving average price of $91.53 and a two-hundred day moving average price of $84.00. The stock has a market cap of $46.03 billion, a PE ratio of 122.92 and a beta of 1.01.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The firm had revenue of $313.74 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm posted ($0.01) earnings per share. As a group, sell-side analysts predict that Cameco will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

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

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.