Cameco Sees Unusually High Options Volume (NYSE:CCJ)

Cameco Co. (NYSE:CCJ – Get Rating) (TSE:CCO) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 28,210 put options on the company. This represents an increase of approximately 942% compared to the typical volume of 2,706 put options.

Cameco Stock Performance

Shares of CCJ opened at $26.15 on Thursday. Cameco has a one year low of $20.01 and a one year high of $32.49. The company has a 50-day moving average of $26.65 and a two-hundred day moving average of $25.54. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 153.83 and a beta of 0.95. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.92 and a quick ratio of 4.74.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CCJ shares. Raymond James increased their target price on shares of Cameco from C$45.00 to C$48.00 in a research report on Friday, February 10th. TD Securities upgraded shares of Cameco to a “buy” rating in a research report on Friday, February 10th. Finally, Scotiabank raised their price objective on shares of Cameco from C$43.00 to C$50.00 in a research report on Friday, February 10th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.14.

Institutional Investors Weigh In On Cameco

Several hedge funds and other institutional investors have recently modified their holdings of CCJ. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Cameco by 26.6% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,901 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 400 shares during the period. Moors & Cabot Inc. grew its position in shares of Cameco by 2.6% during the 4th quarter. Moors & Cabot Inc. now owns 15,626 shares of the basic materials company’s stock worth $354,000 after buying an additional 400 shares during the period. NewEdge Wealth LLC grew its position in shares of Cameco by 2.9% during the 2nd quarter. NewEdge Wealth LLC now owns 15,228 shares of the basic materials company’s stock worth $320,000 after buying an additional 425 shares during the period. Parallel Advisors LLC grew its position in shares of Cameco by 12.4% in the 4th quarter. Parallel Advisors LLC now owns 3,889 shares of the basic materials company’s stock valued at $88,000 after purchasing an additional 429 shares during the period. Finally, Confluence Investment Management LLC grew its position in shares of Cameco by 2.2% in the 4th quarter. Confluence Investment Management LLC now owns 22,164 shares of the basic materials company’s stock valued at $502,000 after purchasing an additional 473 shares during the period. Institutional investors and hedge funds own 53.82% of the company’s stock.

Cameco Company Profile

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Cameco Corp. engages in the provision of uranium. It operates through the Uranium and Fuel Services segments. The Uranium segment is involved in the exploration for, mining, milling, purchase, and sale of uranium concentrate. The Fuel Services segment deals with the refining, conversion, and fabrication of uranium concentrate and the purchase and sale of conversion services.