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

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO saw unusually large options trading on Thursday. Investors acquired 28,210 put options on the company. This represents an increase of approximately 942% compared to the typical daily volume of 2,706 put options.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CCJ. StockNews.com upgraded Cameco from a "sell" rating to a "hold" rating in a research note on Wednesday, March 19th. Stifel Nicolaus assumed coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a "buy" rating on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. Stifel Canada raised shares of Cameco to a "strong-buy" rating in a report on Wednesday, March 12th. Finally, Glj Research boosted their price target on Cameco from $62.76 to $75.68 and gave the company a "buy" rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $73.64.

Remove Ads

Hedge Funds Weigh In On Cameco

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

Cameco Price Performance

NYSE CCJ traded up $1.20 on Monday, hitting $45.73. 2,266,356 shares of the company's stock were exchanged, compared to its average volume of 4,089,724. The stock has a 50-day moving average of $47.03 and a 200-day moving average of $50.18. The stock has a market cap of $19.91 billion, a price-to-earnings ratio of 163.34 and a beta of 1.04. Cameco has a 52 week low of $35.43 and a 52 week high of $62.55. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The business 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%. Analysts expect that Cameco will post 1.27 earnings per share 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.