Cameco Sees Unusually High Options Volume (NYSE:CCJ)

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

Analyst Ratings Changes

CCJ has been the subject of a number of analyst reports. Scotiabank reissued an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. UBS Group assumed coverage on Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 price target on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a report on Thursday. The Goldman Sachs Group restated a “buy” rating and issued a $131.00 target price on shares of Cameco in a research report on Wednesday. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Cameco presently has an average rating of “Buy” and an average target price of $131.39.

Cameco Stock Down 5.0%

NYSE CCJ opened at $109.12 on Friday. Cameco has a 12 month low of $35.00 and a 12 month high of $135.24. The company’s 50 day simple moving average is $103.20 and its 200 day simple moving average is $90.27. The company has a market capitalization of $47.52 billion, a P/E ratio of 126.88 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The company had revenue of $313.74 million during 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 business’s revenue was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Equities research analysts expect that Cameco will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cameco

A number of institutional investors have recently bought and sold shares of the stock. Sapient Capital LLC lifted its stake in Cameco by 5.9% during the fourth quarter. Sapient Capital LLC now owns 6,155 shares of the basic materials company’s stock valued at $561,000 after buying an additional 342 shares in the last quarter. L & S Advisors Inc raised its holdings in shares of Cameco by 6.0% during the fourth quarter. L & S Advisors Inc now owns 78,113 shares of the basic materials company’s stock valued at $7,147,000 after acquiring an additional 4,439 shares during the period. Ranch Capital Advisors Inc. lifted its position in shares of Cameco by 2.6% in the 4th quarter. Ranch Capital Advisors Inc. now owns 6,535 shares of the basic materials company’s stock valued at $598,000 after acquiring an additional 163 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Cameco by 14,338.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock worth $101,744,000 after purchasing an additional 1,104,378 shares during the period. Finally, Allworth Financial LP boosted its stake in Cameco by 3.5% in the 4th quarter. Allworth Financial LP now owns 4,639 shares of the basic materials company’s stock worth $424,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.