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

Cameco Co. (NYSE:CCJGet Rating) (TSE:CCO) was the target of unusually large options trading activity on Wednesday. Traders purchased 28,210 put options on the company. This is an increase of approximately 942% compared to the typical volume of 2,706 put options.

Hedge funds have recently modified their holdings of the business. Cetera Advisors LLC raised its stake in Cameco by 98.3% during the third quarter. Cetera Advisors LLC now owns 141,148 shares of the basic materials company’s stock worth $3,067,000 after purchasing an additional 69,956 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Cameco in the 3rd quarter valued at approximately $7,283,000. Exchange Traded Concepts LLC raised its stake in shares of Cameco by 32.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,277,019 shares of the basic materials company’s stock valued at $115,092,000 after acquiring an additional 1,293,760 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cameco by 1.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 185,746 shares of the basic materials company’s stock valued at $3,994,000 after acquiring an additional 2,878 shares during the period. Finally, Covea Finance purchased a new stake in shares of Cameco in the 4th quarter valued at approximately $3,494,000. 57.95% of the stock is currently owned by institutional investors.

A number of research firms have issued reports on CCJ. Scotiabank raised their price target on shares of Cameco from C$40.00 to C$47.00 in a report on Wednesday, April 13th. Canaccord Genuity Group reduced their target price on shares of Cameco from C$44.00 to C$43.00 in a report on Friday, May 6th. StockNews.com raised shares of Cameco from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. CIBC initiated coverage on shares of Cameco in a report on Wednesday, January 19th. They set an “outperform” rating for the company. Finally, Bank of America lifted their price objective on shares of Cameco from C$40.00 to C$46.00 in a report on Tuesday, April 12th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Cameco presently has an average rating of “Buy” and a consensus target price of $40.70.

CCJ opened at $22.94 on Thursday. The firm has a market capitalization of $9.14 billion, a PE ratio of -208.53 and a beta of 0.88. Cameco has a twelve month low of $15.34 and a twelve month high of $32.49. The firm’s 50-day moving average price is $27.09 and its 200 day moving average price is $24.44. The company has a current ratio of 5.05, a quick ratio of 4.12 and a debt-to-equity ratio of 0.20.

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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