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

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was the target of some unusual options trading on Thursday. Stock traders bought 28,210 put options on the company. This is an increase of 942% compared to the average daily volume of 2,706 put options.

Analysts Set New Price Targets

A number of analysts recently commented on CCJ shares. National Bankshares reiterated an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cameco in a report on Monday. Wall Street Zen lowered shares of Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Glj Research reaffirmed a “buy” rating and issued a $99.74 price target on shares of Cameco in a report on Wednesday, December 3rd. Finally, CLSA started coverage on shares of Cameco in a research report on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.25.

Cameco Trading Up 0.2%

NYSE CCJ opened at $93.63 on Friday. The stock has a 50 day simple moving average of $90.49 and a two-hundred day simple moving average of $81.96. Cameco has a fifty-two week low of $35.00 and a fifty-two week high of $110.15. The stock has a market cap of $40.77 billion, a P/E ratio of 108.87 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The company had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s revenue for the quarter was down 14.7% compared to the same quarter last year. On average, analysts forecast that Cameco will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. This represents a yield of 27.0%. Cameco’s payout ratio is currently 19.77%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCJ. Swiss Life Asset Management Ltd increased its stake in Cameco by 15.9% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 68,695 shares of the basic materials company’s stock valued at $5,773,000 after purchasing an additional 9,435 shares in the last quarter. Groupama Asset Managment purchased a new position in shares of Cameco during the 3rd quarter worth $153,000. Cantor Fitzgerald L. P. grew its holdings in Cameco by 69.8% during the third quarter. Cantor Fitzgerald L. P. now owns 12,503 shares of the basic materials company’s stock valued at $1,049,000 after purchasing an additional 5,140 shares during the period. Strategic Advocates LLC bought a new position in shares of Cameco in the third quarter worth about $28,000. Finally, Manhattan West Asset Management LLC lifted its position in shares of Cameco by 3.2% during the 3rd quarter. Manhattan West Asset Management LLC now owns 18,541 shares of the basic materials company’s stock valued at $1,555,000 after buying an additional 574 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.