Investors Buy High Volume of Cameco Put Options (NYSE:CCJ)

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO was the recipient of some unusual options trading activity on Thursday. Traders purchased 28,210 put options on the stock. This is an increase of 942% compared to the typical daily volume of 2,706 put options.

Analysts Set New Price Targets

Several research firms have recently weighed in on CCJ. Sanford C. Bernstein started coverage on shares of Cameco in a research report on Tuesday. They issued an "outperform" rating and a $52.00 target price for the company. Royal Bank of Canada restated an "outperform" rating and set a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. Stifel Nicolaus started coverage on Cameco in a research report on Wednesday, March 12th. They issued a "buy" rating for the company. Glj Research boosted their price target on Cameco from $62.76 to $75.68 and gave the company a "buy" rating in a report on Wednesday, March 12th. Finally, StockNews.com lowered shares of Cameco from a "hold" rating to a "sell" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Cameco presently has an average rating of "Buy" and an average price target of $70.03.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sierra Ocean LLC acquired a new position in shares of Cameco in the 4th quarter worth approximately $25,000. Hurley Capital LLC acquired a new position in Cameco in the fourth quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Cameco in the fourth quarter valued at $28,000. Pingora Partners LLC acquired a new stake in shares of Cameco during the 3rd quarter valued at $33,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Cameco during the 4th quarter valued at $33,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Performance

CCJ traded down $3.12 during trading hours on Friday, hitting $37.80. The company's stock had a trading volume of 9,417,889 shares, compared to its average volume of 4,104,719. The company has a 50-day simple moving average of $45.02 and a 200 day simple moving average of $50.25. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $16.45 billion, a PE ratio of 134.98 and a beta of 1.04. Cameco has a fifty-two week low of $35.43 and a fifty-two week high of $62.55.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting analysts' consensus estimates of $0.26. The company had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. As a group, sell-side analysts expect that Cameco will post 1.27 EPS for the current year.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.