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

Cameco Corporation (NYSE:CCJ) (TSE:CCO) saw unusually large options trading activity on Thursday. Stock traders acquired 28,210 put options on the stock. This represents an increase of 942% compared to the average volume of 2,706 put options.

Cameco Price Performance

Shares of CCJ stock opened at $70.74 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. Cameco has a twelve month low of $35.00 and a twelve month high of $75.42. The company has a market cap of $30.80 billion, a P/E ratio of 176.85 and a beta of 1.03. The business has a fifty day simple moving average of $62.07 and a 200 day simple moving average of $51.53.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a return on equity of 4.47% and a net margin of 7.50%. The company had revenue of $549.58 million for the quarter, compared to analyst estimates of $890.07 million. During the same quarter last year, the company posted $0.13 earnings per share. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. On average, sell-side analysts forecast that Cameco will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Cameco

Large investors have recently bought and sold shares of the stock. Vanguard Capital Wealth Advisors bought a new stake in Cameco in the 4th quarter worth about $839,000. Nicholson Meyer Capital Management Inc. purchased a new position in shares of Cameco in the 1st quarter worth about $350,000. Balefire LLC boosted its holdings in shares of Cameco by 42.9% in the 1st quarter. Balefire LLC now owns 33,601 shares of the basic materials company’s stock worth $1,383,000 after buying an additional 10,081 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in shares of Cameco by 583.2% in the 1st quarter. FNY Investment Advisers LLC now owns 21,500 shares of the basic materials company’s stock worth $884,000 after buying an additional 18,353 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Cameco by 44.7% in the 4th quarter. Tidal Investments LLC now owns 36,736 shares of the basic materials company’s stock worth $1,888,000 after buying an additional 11,340 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CCJ. The Goldman Sachs Group boosted their price objective on shares of Cameco from $65.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the stock an “outperform” rating in a research note on Tuesday, June 10th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, June 18th. Wall Street Zen raised shares of Cameco from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Glj Research reaffirmed a “buy” rating and set a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Cameco presently has a consensus rating of “Buy” and a consensus price target of $80.65.

About Cameco

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.