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

Cameco Co. (NYSE:CCJGet Rating) (TSE:CCO) was the recipient of some unusual options trading activity on Wednesday. Traders bought 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.

CCJ opened at $26.38 on Thursday. The company’s 50 day moving average is $27.60 and its 200 day moving average is $24.69. 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 company has a market cap of $10.51 billion, a price-to-earnings ratio of -131.89 and a beta of 0.88. Cameco has a 12-month low of $15.34 and a 12-month high of $32.49.

Cameco (NYSE:CCJGet Rating) (TSE:CCO) last issued its quarterly 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 net margin of 7.01% and a negative return on equity of 2.00%. During the same quarter in the prior year, the business earned $0.09 EPS. As a group, analysts predict that Cameco will post 0.05 EPS for the current fiscal year.

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

A number of research firms have commented on CCJ. Canaccord Genuity Group lifted their target price on Cameco from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 10th. Raymond James lifted their price objective on Cameco from C$40.00 to C$47.00 in a report on Wednesday, April 20th. Zacks Investment Research cut shares of Cameco from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th. CIBC initiated coverage on shares of Cameco in a report on Wednesday, January 19th. They set an “outperform” rating on the stock. Finally, Royal Bank of Canada upgraded shares of Cameco from a “sector perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, April 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $42.00.

A number of institutional investors and hedge funds have recently modified their holdings of CCJ. AdvisorNet Financial Inc bought a new position in shares of Cameco in the first quarter worth about $29,000. Bank of New Hampshire bought a new stake in Cameco during the 1st quarter worth approximately $34,000. JFS Wealth Advisors LLC lifted its holdings in Cameco by 92.9% during the first quarter. JFS Wealth Advisors LLC now owns 1,686 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 812 shares in the last quarter. Sandy Cove Advisors LLC bought a new position in shares of Cameco in the fourth quarter worth approximately $38,000. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Cameco in the third quarter worth $44,000. Institutional investors and hedge funds own 57.95% of the company’s stock.

Cameco Company Profile (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.

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