Investors Purchase High Volume of Put Options on Cameco (NYSE:CCJ)

Cameco Corporation (NYSE:CCJ) (TSE:CCO) saw unusually large options trading on Thursday. Stock traders purchased 28,210 put options on the stock. Thisisanincreaseof942% compared to the average volume of 2,706 put options.

Cameco Trading Down 0.6%

NYSE CCJ opened at $75.85 on Friday. Cameco has a 12 month low of $35.00 and a 12 month high of $83.02. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $33.02 billion, a PE ratio of 87.18 and a beta of 1.04. The business’s 50-day moving average price is $75.64 and its two-hundred day moving average price is $58.73.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business had revenue of $467.72 million during the quarter, compared to analysts’ expectations of $819.79 million. During the same quarter last year, the firm posted $0.14 earnings per share. The firm’s revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. On average, analysts expect that Cameco will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CCJ. Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Scotiabank restated an “outperform” rating on shares of Cameco in a research note on Tuesday, July 8th. Glj Research reaffirmed a “buy” rating and set a $75.27 price target on shares of Cameco in a report on Thursday, June 12th. BMO Capital Markets reissued an “outperform” rating on shares of Cameco in a research note on Friday, August 29th. Finally, Raymond James Financial restated an “outperform” rating on shares of Cameco in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $83.32.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Management LLC bought a new position in Cameco during the first quarter valued at $2,131,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Cameco during the fourth quarter worth about $839,000. Northwest & Ethical Investments L.P. raised its position in shares of Cameco by 50.0% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock valued at $1,750,000 after buying an additional 14,154 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its position in Cameco by 41.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company’s stock worth $1,663,000 after buying an additional 11,879 shares during the last quarter. Finally, Nicholson Meyer Capital Management Inc. bought a new position in Cameco during the first quarter valued at approximately $350,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Company Profile

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.