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

Cameco Corporation (NYSE:CCJ) (TSE:CCO) saw some unusual options trading on Thursday. Stock investors acquired 28,210 put options on the company. This is an increase of approximately 942% compared to the typical daily volume of 2,706 put options.

Cameco Trading Down 2.5%

Shares of NYSE:CCJ opened at $91.14 on Friday. Cameco has a 52-week low of $35.00 and a 52-week high of $97.79. The stock has a market cap of $39.68 billion, a price-to-earnings ratio of 104.76 and a beta of 0.99. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $81.01 and a 200-day moving average price of $67.04.

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

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of recent research reports. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research report on Tuesday, July 8th. Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cameco in a research report on Wednesday, October 8th. TD Securities reaffirmed a “buy” rating on shares of Cameco in a research report on Tuesday, August 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Cameco in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco has an average rating of “Buy” and an average price target of $89.55.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Manchester Capital Management LLC raised its position in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 300 shares in the last quarter. Dagco Inc. purchased a new position in Cameco during the first quarter valued at approximately $28,000. SVB Wealth LLC purchased a new position in Cameco during the first quarter valued at approximately $29,000. Trust Co. of Vermont raised its position in Cameco by 1,029.4% during the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 350 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its position in Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 182 shares in the last quarter. 70.21% of the stock is currently 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.