Stock Traders Buy High Volume of Put Options on Cameco (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) saw unusually large options trading activity on Thursday. Traders bought 28,210 put options on the stock. This is an increase of 942% compared to the average daily volume of 2,706 put options.

Cameco Stock Performance

Shares of Cameco stock opened at $114.20 on Friday. The business’s fifty day simple moving average is $114.03 and its 200 day simple moving average is $95.95. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. Cameco has a 12 month low of $35.00 and a 12 month high of $135.24. The firm has a market capitalization of $49.74 billion, a P/E ratio of 117.73 and a beta of 0.98.

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

Institutional Trading of Cameco

Several hedge funds have recently added to or reduced their stakes in CCJ. Norges Bank purchased a new stake in shares of Cameco during the 4th quarter worth approximately $443,265,000. TD Asset Management Inc grew its holdings in Cameco by 116.7% during the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after purchasing an additional 2,489,207 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after buying an additional 2,071,373 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Cameco by 7,481.3% in the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after buying an additional 1,729,454 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Cameco by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after buying an additional 1,644,061 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CCJ shares. Sanford C. Bernstein reiterated an “outperform” rating and set a $147.00 price target on shares of Cameco in a research note on Thursday, February 5th. The Goldman Sachs Group restated a “buy” rating and issued a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. National Bank Financial reissued an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Finally, UBS Group assumed coverage on shares of Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.03.

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.