Investors Buy High Volume of Cameco Put Options (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 stock. This represents an increase of 942% compared to the typical volume of 2,706 put options.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CCJ shares. Royal Bank Of Canada raised their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday. Scotiabank reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. Zacks Research upgraded Cameco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. 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 given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $143.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Consulate Inc. purchased a new position in Cameco during the third quarter valued at $25,000. Nisa Investment Advisors LLC purchased a new position in shares of Cameco during the fourth quarter valued at about $25,000. Founders Capital Management purchased a new stake in shares of Cameco during the 4th quarter worth approximately $27,000. Strategic Advocates LLC purchased a new stake in Cameco during the third quarter valued at approximately $28,000. Finally, Mcguire Capital Advisors Inc. bought a new position in Cameco during the 4th quarter valued at about $28,000. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Up 2.3%

Shares of NYSE:CCJ opened at $119.14 on Friday. Cameco has a 52-week low of $35.00 and a 52-week high of $135.24. The business’s 50 day simple moving average is $108.19 and its two-hundred day simple moving average is $92.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.85 and a current ratio of 2.47. The firm has a market cap of $51.89 billion, a P/E ratio of 122.83 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. As a group, research analysts forecast that Cameco will post 1.27 EPS for the current fiscal year.

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.