Traders Buy Large Volume of Cameco Put Options (NYSE:CCJ)

Cameco Co. (NYSE:CCJGet Rating) (TSE:CCO) was the target of some unusual options trading on Wednesday. Stock traders acquired 28,210 put options on the company. This represents an increase of approximately 942% compared to the average daily volume of 2,706 put options.

CCJ has been the subject of a number of recent research reports. Scotiabank lifted their price objective on Cameco from C$40.00 to C$47.00 in a research note on Wednesday, April 13th. Raymond James lifted their price target on Cameco from C$40.00 to C$47.00 in a research note on Wednesday. Bank of America lifted their price target on Cameco from C$40.00 to C$46.00 in a research note on Tuesday, April 12th. CIBC began coverage on Cameco in a research note on Wednesday, January 19th. They issued an “outperform” rating for the company. Finally, Canaccord Genuity Group lifted their price target on Cameco from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $41.30.

Several institutional investors have recently modified their holdings of the company. Belvedere Trading LLC acquired a new position in shares of Cameco during the 1st quarter worth approximately $1,277,000. New England Research & Management Inc. acquired a new position in shares of Cameco during the 1st quarter worth approximately $509,000. Bank of New Hampshire acquired a new position in shares of Cameco during the 1st quarter worth approximately $34,000. Harbor Investment Advisory LLC lifted its holdings in Cameco by 1,796.8% in the first quarter. Harbor Investment Advisory LLC now owns 12,329 shares of the basic materials company’s stock valued at $359,000 after acquiring an additional 11,679 shares during the last quarter. Finally, Capital Market Strategies LLC acquired a new position in Cameco in the first quarter valued at approximately $489,000. Institutional investors and hedge funds own 58.26% of the company’s stock.

NYSE:CCJ opened at $31.55 on Thursday. Cameco has a 12 month low of $15.34 and a 12 month high of $32.49. The stock has a 50 day moving average of $26.54 and a two-hundred day moving average of $24.46. The company has a current ratio of 5.18, a quick ratio of 4.19 and a debt-to-equity ratio of 0.21. The firm has a market cap of $12.57 billion, a P/E ratio of -157.74 and a beta of 0.84.

Cameco (NYSE:CCJGet Rating) (TSE:CCO) last issued its earnings results on Wednesday, February 9th. The basic materials company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.07. The business had revenue of $368.91 million for the quarter. Cameco had a negative return on equity of 2.00% and a negative net margin of 7.01%. During the same quarter in the prior year, the firm earned $0.09 earnings per share. On average, research analysts forecast that Cameco will post 0.05 earnings per share for the current year.

The business also recently announced an annual dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.094 per share. This is a boost from Cameco’s previous annual dividend of $0.06. This represents a dividend yield of 0.41%. The ex-dividend date is Tuesday, November 29th. Cameco’s payout ratio is currently -30.00%.

About Cameco (Get Rating)

Cameco Corporation produces and sells uranium. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as 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.

Featured Articles

Receive News & Ratings for Cameco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cameco and related companies with MarketBeat.com's FREE daily email newsletter.