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

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

Cameco Stock Performance

Shares of CCJ stock opened at $109.12 on Friday. The stock has a market capitalization of $47.52 billion, a price-to-earnings ratio of 126.88 and a beta of 0.99. Cameco has a one year low of $35.00 and a one year high of $135.24. The company’s 50-day simple moving average is $103.20 and its 200-day simple moving average is $90.27. 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 announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The firm had revenue of $313.74 million for the quarter, compared to analyst estimates of $531.72 million. During the same quarter in the previous year, the company earned ($0.01) EPS. The company’s quarterly revenue was down 14.7% compared to the same quarter last year. Equities analysts anticipate that Cameco will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Consulate Inc. bought a new position in Cameco in the third quarter worth about $25,000. Nisa Investment Advisors LLC acquired a new position in Cameco during the 4th quarter valued at approximately $25,000. Founders Capital Management bought a new position in Cameco during the 4th quarter worth $27,000. Strategic Advocates LLC acquired a new stake in Cameco in the third quarter worth $28,000. Finally, Armstrong Advisory Group Inc. increased its position in Cameco by 110.3% in the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after buying an additional 182 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Zacks Research raised shares of Cameco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 price objective on shares of Cameco in a report on Wednesday. Sanford C. Bernstein restated an “outperform” rating and set a $147.00 target price on shares of Cameco in a research note on Thursday. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $131.39.

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.